Michigan Laws 750.417a – Vehicle, watercraft, or aircraft subject to conditional sales contract, security agreement, or lease contract; written consent required for lease or sublease; violation as misdemeanor; court action; c
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(1) A person other than the buyer shall not assist, cause, arrange, or induce the buyer of a vehicle, watercraft, or aircraft that is subject to a conditional sales contract or security agreement to lease or sublease the vehicle, watercraft, or aircraft to another person without first obtaining written consent to the lease or sublease from the holder of the security agreement.
(2) A person other than a party to the lease shall not assist, cause, arrange, or induce the lessee of a vehicle, watercraft, or aircraft that is subject to a lease contract to sublease the vehicle, watercraft, or aircraft to another person without first obtaining written consent to the sublease from the lessor under the lease contract.
Terms Used In Michigan Laws 750.417a
- Contract: A legal written agreement that becomes binding when signed.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- 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
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
(3) A person who violates this section is guilty of a misdemeanor, punishable by imprisonment for not more than 1 year, or by a fine of not more than $10,000.00, or both.
(4) A person who suffers a loss as a result of a violation of this section may bring an action in a court of competent jurisdiction to recover 1 or more of the following:
(a) An injunction or restraining order enjoining a person from engaging in a method, act, or practice which is a violation of this section.
(b) Any other equitable relief.
(5) This section shall not be construed to limit the rights or duties a person may have under any other law.