Terms Used In Michigan Laws > Chapter 438 > R.S. of 1846 > Chapter 34 > INTEREST OF MONEY

• annual meeting: when applied to townships, mean the annual meeting required by law to be held on the Saturday immediately preceding the first Monday in April. See Michigan Laws 8.3d
• Contract: A legal written agreement that becomes binding when signed.
• Local unit: means a city, township, or village. See Michigan Laws 124.21
• Plaintiff: The person who files the complaint in a civil lawsuit.
• 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
• Usury: Charging an illegally high interest rate on a loan. ^{Source: OCC}