Michigan Laws 442.365 – Action to enforce act
Current as of: 2023 | Check for updates
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(1) In an action to enforce this act all of the following apply:
(a) A disclaimer made pursuant to section 2(2) regarding an item of relevant information shall be effective unless the claimant can establish that the art merchant failed to make reasonable inquiries, according to custom and usage of trade, to ascertain the information, or that the information would have been ascertained as a result of reasonable inquiry.
Terms Used In Michigan Laws 442.365
- Art merchant: means a person who deals in multiples, or who by his or her occupation holds himself or herself out as having knowledge or skill peculiar to a person who deals in multiples, or who employs a broker, agent, or other intermediary who holds himself or herself out as having knowledge or skill peculiar to a person who deals in multiples. See Michigan Laws 442.351a
- Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. Source: OCC
(b) The court may allow a prevailing party the costs of the action, and may allow a prevailing purchaser reasonable attorney fees. If the court determines that a purchaser’s action was brought in bad faith, it may allow the art merchant reasonable attorney fees.
(2) An action to enforce this act shall be brought within the period prescribed by section 2725 of the uniform commercial code, Act No. 174 of the Public Acts of 1962, being section 440.2725 of the Michigan Compiled Laws for an action for a breach of warranty.