§ 440.2701 Collateral or ancillary contracts; remedies for breach
§ 440.2702 Insolvency of buyer; remedies of seller
§ 440.2703 Buyer’s wrongful rejection, revocation of acceptance, or nonpayment; remedies of seller
§ 440.2704 Buyer’s wrongful rejection, revocation of acceptance, or nonpayment; identification of goods; resale; salvage
§ 440.2705 Stoppage of delivery in transit or otherwise; conditions; notice to bailee
§ 440.2706 Buyer’s wrongful rejection, revocation of acceptance, or nonpayment; resale by seller; recovery of loss; notice to buyer; profit
§ 440.2707 Person in the position of a seller
§ 440.2708 Nonacceptance or repudiation; seller’s damages
§ 440.2709 Nonpayment; action for price, damages
§ 440.2710 Seller’s incidental damages
§ 440.2711 Nondelivery, repudiation, rejection, or revocation of acceptance; buyer’s remedies; security interest in goods
§ 440.2712 Cover; procurement of substitute goods; buyer’s damages
§ 440.2713 Nondelivery or repudiation; buyer’s damages
§ 440.2714 Accepted goods; buyer’s damages for breach
§ 440.2715 Buyer’s incidental and consequential damages
§ 440.2716 Specific performance; replevin; claim and delivery
§ 440.2717 Deduction of damages from price; notice
§ 440.2718 Liquidation and limitation of damages; restitution to buyers
§ 440.2719 Contractual modification or limitation of remedies
§ 440.2720 Cancellation, rescission, antecedent breach
§ 440.2721 Remedies for misrepresentation or fraud
§ 440.2722 Right of action against third party for injury to goods
§ 440.2723 Evidence of market price; time, place, surprise
§ 440.2724 Evidence of market price; market quotations, admissibility
§ 440.2725 Statute of limitations in contracts for sale; contractual reduction

Terms Used In Michigan Laws > Chapter 440 > Act 174 of 1962 > Article 2 > Part 7 - Remedies

  • Aggrieved party: means a party entitled to resort to a remedy. See Michigan Laws 440.1201
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • 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.
  • Appraisal: A determination of property value.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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 and administrative body of an authority. See Michigan Laws 124.402
  • Board: means the governing body of a public authority. See Michigan Laws 124.452
  • Buyer: means a person who buys or contracts to buy goods. See Michigan Laws 440.2103
  • Consumer: means an individual who enters into a transaction primarily for personal, family, or household purposes. See Michigan Laws 440.1201
  • 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.
  • Creditor: includes a general creditor, a secured creditor, a lien creditor, and any representative of creditors, including an assignee for the benefit of creditors, a trustee in bankruptcy, a receiver in equity, and an executor or administrator of an insolvent debtor's or assignor's estate. See Michigan Laws 440.1201
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • 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.
  • Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
  • 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.
  • Fiduciary: A trustee, executor, or administrator.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Fraud: Intentional deception resulting in injury to another.
  • 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
  • Goods: means baggage, accessories, or other personal property carried by or accompanying persons using public transportation service. See Michigan Laws 124.452
  • in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q
  • 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
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
  • 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.
  • Plaintiff: The person who files the complaint in a civil lawsuit.
  • Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
  • Political subdivision: means a county, city, village, or township. See Michigan Laws 124.452
  • Probate: Proving a will
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Public authority: means an authority created under this act. See Michigan Laws 124.452
  • Public transportation system: means a system for providing public transportation service, including public transportation facilities. See Michigan Laws 124.452
  • 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
  • Purchaser: means a person that takes by purchase. See Michigan Laws 440.1201
  • 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.
  • Remedy: means any remedial right to which an aggrieved party is entitled with or without resort to a tribunal. See Michigan Laws 440.1201
  • Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • Revenue: means money received by the public authority as provided in section 17. See Michigan Laws 124.452
  • 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
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • 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: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or insular possession subject to the jurisdiction of the United States. See Michigan Laws 440.1201
  • 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 of limitations: A law that sets the time within which parties must take action to enforce their rights.
  • Taxable property: means the property taxable under the general property tax act, Act No. See Michigan Laws 124.452
  • Term: means a portion of an agreement that relates to a particular matter. See Michigan Laws 440.1201
  • third party: means a person that has engaged in a transaction or made an agreement subject to this act. See Michigan Laws 440.1201
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.
  • United States: shall be construed to include the district and territories. See Michigan Laws 8.3o
  • writing: includes printing, typewriting, or any other intentional reduction to tangible form. See Michigan Laws 440.1201