Michigan Laws > Chapter 125 > Act 288 of 1974 – Uniform Mobile Homes Warranty Act
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| § 125.991 | Short title |
| § 125.992 | Definitions |
| § 125.993 | Warranty; scope |
| § 125.994 | Warranty; contents |
| § 125.995 | Provisions cumulative; waiver |
| § 125.996 | Treble damages |
Terms Used In Michigan Laws > Chapter 125 > Act 288 of 1974 - Uniform Mobile Homes Warranty Act
- Adverse claim: means a claim that a claimant has a property interest in a financial asset and that it is a violation of the rights of the claimant for another person to hold, transfer, or deal with the financial asset. See Michigan Laws 440.8102
- Bearer: means a person in control of a negotiable electronic document of title or a person in possession of an instrument, a negotiable tangible document of title, or a certificated security payable to bearer or indorsed in blank. See Michigan Laws 440.1201
- Contract: A legal written agreement that becomes binding when signed.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Dealer: means any person, other than the manufacturer as defined in this act, who sells 3 or more mobile homes in any consecutive 12-month period or is licensed by the state as a mobile home dealer. See Michigan Laws 125.992
- Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
- 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
- Financial asset: except as otherwise provided in section 8103, means 1 or more of the following:
(i) A security. See Michigan Laws 440.8102Holder: means any of the following:
(i) A person in possession of a negotiable instrument that is payable either to bearer or to an identified person that is the person in possession. See Michigan Laws 440.1201Jurisdiction: (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. Lien: A claim against real or personal property in satisfaction of a debt. Manufacturer: means any person who manufactures mobile homes. See Michigan Laws 125.992 Mobile home: means a movable or portable unit, designed and constructed to be towed on its own chassis, comprised of a frame and wheels, and designed to be connected to utilities for year-round occupancy as a dwelling unit. See Michigan Laws 125.992 month: means a calendar month; the word "year" a calendar year; and the word "year" alone shall be equivalent to the words "year of our Lord". See Michigan Laws 8.3j Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. 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. See Michigan Laws 440.1201 person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l Purchaser: means a person that takes by purchase. See Michigan Laws 440.1201 Purchaser: means the first retail buyer or a transferee or buyer of the first retail buyer. See Michigan Laws 125.992 Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant. Securities intermediary: means either of the following:
(i) A clearing corporation. See Michigan Laws 440.8102Security: except as otherwise provided in section 8103, means an obligation of an issuer or a share, participation, or other interest in an issuer or in property or an enterprise of an issuer and is all of the following:
(i) Represented by a security certificate in bearer or registered form, or the transfer of which may be registered upon books maintained for that purpose by or on behalf of the issuer. See Michigan Laws 440.8102Security certificate: means a certificate representing a security. See Michigan Laws 440.8102 Security entitlement: means the rights and property interest of an entitlement holder with respect to a financial asset specified in part 5. See Michigan Laws 440.8102 shall not apply: means that the pertinent provision is not operative as to certain persons or things or in conjunction with a particular date or dates. See Michigan Laws 8.4c state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o Statute: A law passed by a legislature. Trustee: A person or institution holding and administering property in trust. Uncertificated security: means a security that is not represented by a certificate. See Michigan Laws 440.8102