Michigan Laws 691.1681 – Short title; definitions
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Terms Used In Michigan Laws 691.1681
- Arbitrator: means an individual appointed to render an award, alone or with others, in a controversy that is subject to an agreement to arbitrate. See Michigan Laws 691.1681
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Court: means the circuit court. See Michigan Laws 691.1681
- Knowledge: means actual knowledge. See Michigan Laws 691.1681
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(1) This act shall be known and may be cited as the “uniform arbitration act”.
(2) As used in this act:
(a) “Arbitration organization” means an association, agency, board, commission, or other entity that is neutral and initiates, sponsors, or administers an arbitration proceeding or is involved in the appointment of an arbitrator.
(b) “Arbitrator” means an individual appointed to render an award, alone or with others, in a controversy that is subject to an agreement to arbitrate.
(c) “Court” means the circuit court.
(d) “Knowledge” means actual knowledge.
(e) “Person” means an individual, corporation, business trust, estate, trust, partnership, limited liability company, association, joint venture, government; governmental subdivision, agency, or instrumentality; public corporation; or any other legal or commercial entity.
(f) “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.