Terms Used In Michigan Laws 445.994

• Contract: A legal written agreement that becomes binding when signed.
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Lessee: means a natural person who leases a motor vehicle under a lease contract. See Michigan Laws 445.991
• Lessor: means a natural person, partnership, corporation, association, or other legal entity that is engaged in the business of leasing, offering to lease, or arranging the lease of a motor vehicle under a lease contract. See Michigan Laws 445.991
• Motor vehicle: means a vehicle, including passenger vans and minivans, that is self-propelled, that is capable of being operated on a highway or street in this state, and that is primarily intended for the transport of persons. See Michigan Laws 445.991