§ 440.2501 Special property and insurable interest in goods; identification of goods
§ 440.2502 Special property and insurable interest in goods
§ 440.2503 Tender of delivery by seller; shipment; destination; goods in possession of bailee; documents
§ 440.2504 Delivery by shipment; contract with carrier, documents, notice
§ 440.2505 Shipment with and without reservation by seller
§ 440.2506 Financing agency; rights; reimbursement
§ 440.2507 Tender of delivery; conditions, payment
§ 440.2508 Improper delivery; cure, replacement
§ 440.2509 Risk of loss; absence of breach
§ 440.2510 Risk of loss; effect of breach
§ 440.2511 Payment by buyer; tender, check
§ 440.2512 Payment by buyer; inspection, nonconforming goods
§ 440.2513 Inspection by buyer; time, expenses, place, method
§ 440.2514 Documents; delivery to drawee on acceptance or payment
§ 440.2515 Adjustment of dispute; preservation of evidence, inspection

Terms Used In Michigan Laws > Chapter 440 > Act 174 of 1962 > Article 2 > Part 5 - Performance

  • Accessory: means any accessory, equipment, additional part or replacement part for a vehicle for which a certificate of title is required to be issued under this act. See Michigan Laws 257.1a
  • Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Authority: means a public transportation authority formed under this act. See Michigan Laws 124.351
  • Authority: means an authority created by or pursuant to this act. See Michigan Laws 124.402
  • Bequest: Property gifted by will.
  • Bill of lading: means a document of title evidencing the receipt of goods for shipment issued by a person engaged in the business of directly or indirectly transporting or forwarding goods. See Michigan Laws 440.1201
  • Board: means the governing body of an authority. See Michigan Laws 124.351
  • Board: means the governing and administrative body of an authority. See Michigan Laws 124.402
  • Buyer: means a person who buys or contracts to buy goods. See Michigan Laws 440.2103
  • Chief executive officer: means , with respect to a city, the mayor of the city and, with respect to a county, either the county executive of the county or, for a county not having a county executive, the chairperson of the county board of commissioners. See Michigan Laws 124.402
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See Michigan Laws 440.2106
  • Conviction: A judgement of guilt against a criminal defendant.
  • 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.
  • Council: means a regional transit coordinating council formed pursuant to section 4a. See Michigan Laws 124.402
  • Delivery: means either of the following:
  (i) With respect to an electronic document of title, a voluntary transfer of control. See Michigan Laws 440.1201
  • Devise: To gift property by will.
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Document of title: means a record that in the regular course of business or financing is treated as adequately evidencing that the person in possession or control of the record is entitled to receive, control, hold, and dispose of the record and the goods the record covers and that purports to be issued by or addressed to a bailee and to cover goods in the bailee's possession which are either identified or are fungible portions of an identified mass. See Michigan Laws 440.1201
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • Good faith: except as otherwise provided in article 5, means honesty in fact and the observance of reasonable commercial standards of fair dealing. See Michigan Laws 440.1201
  • Governor: means the governor of the state. See Michigan Laws 124.402
  • Holder: 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 440.1201
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Insolvent: means any of the following:
    •   (i) Having generally ceased to pay debts in the ordinary course of business other than as a result of a bona fide dispute. See Michigan Laws 440.1201
  • 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
  • Legal tender: coins, dollar bills, or other currency issued by a government as official money. Source: U.S. Mint
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Litigation: A case, controversy, or lawsuit. Participants (plaintiffs and defendants) in lawsuits are called litigants.
  • Metropolitan area: means an area conforming in general to a consolidated metropolitan statistical area as defined by the United States office of management and budget or 2 or more counties which form a generally recognized urban complex. See Michigan Laws 124.402
  • Money: means a medium of exchange authorized or adopted by a domestic or foreign government. See Michigan Laws 440.1201
  • 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
  • Personal property: All property that is not real property.
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Purchase: means taking by sale, lease, discount, negotiation, mortgage, pledge, lien, security interest, issue or reissue, gift, or any other voluntary transaction creating an interest in property. See Michigan Laws 440.1201
  • 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. See Michigan Laws 440.1201
  • Right: includes remedy. See Michigan Laws 440.1201
  • Security interest: means an interest in personal property or fixtures which secures payment or performance of an obligation. See Michigan Laws 440.1201
  • Seller: means a person who sells or contracts to sell goods. See Michigan Laws 440.2103
  • Service area: means that area in which a public authority incorporated under this act operates a mass transportation system or causes a mass transportation system to operate. See Michigan Laws 124.351
  • 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.
  • Taxable property: means the property taxable under the general property tax act, Act No. See Michigan Laws 124.351
  • third party: means a person that has engaged in a transaction or made an agreement subject to this act. See Michigan Laws 440.1201
  • United States: shall be construed to include the district and territories. See Michigan Laws 8.3o
  • Veto: The procedure established under the Constitution by which the President/Governor refuses to approve a bill or joint resolution and thus prevents its enactment into law. A regular veto occurs when the President/Governor returns the legislation to the house in which it originated. The President/Governor usually returns a vetoed bill with a message indicating his reasons for rejecting the measure. In Congress, the veto can be overridden only by a two-thirds vote in both the Senate and the House.