Michigan Laws > Chapter 449 > Act 213 of 1982 > Article 9
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Michigan Laws > Chapter 449 > Act 213 of 1982 > Article 9
- Administrator: means the chief officer of the Michigan department of commerce or his or her designated representative. See Michigan Laws 449.1101
- 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.
- Bankruptcy: Refers to statutes and judicial proceedings involving persons or businesses that cannot pay their debts and seek the assistance of the court in getting a fresh start. Under the protection of the bankruptcy court, debtors may discharge their debts, perhaps by paying a portion of each debt. Bankruptcy judges preside over these proceedings.
- Certificate of limited partnership: means the certificate, and the certificate as amended or restated, referred to in section 201. See Michigan Laws 449.1101
- Commission: means the Michigan aeronautics commission. See Michigan Laws 259.481
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Dismissal: The dropping of a case by the judge without further consideration or hearing. Source:
- domestic limited partnership: means a partnership formed by 2 or more persons under the laws of this state and having 1 or more general partners and 1 or more limited partners. See Michigan Laws 449.1101
- Foreign limited partnership: means a partnership formed under the laws of any state other than this state and having as partners 1 or more general partners and 1 or more limited partners. See Michigan Laws 449.1101
- General partner: means a person who has been admitted to a limited partnership as a general partner in accordance with the partnership agreement and named in the certificate of limited partnership as a general partner. See Michigan Laws 449.1101
- 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
- Limited partner: means a person who has been admitted to a limited partnership as a limited partner in accordance with the partnership agreement and named in the certificate of limited partnership as a limited partner. See Michigan Laws 449.1101
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Partner: means a limited or general partner. See Michigan Laws 449.1101
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: means a natural person, partnership, domestic or foreign limited partnership, trust, estate, association, or corporation, or any other legal entity. See Michigan Laws 449.1101
- Person: means an individual, firm, partnership, corporation, association, or body politic. See Michigan Laws 259.481
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Service of process: The service of writs or summonses to the appropriate party.
- 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.
- State: means a state, territory, or possession of the United States, the District of Columbia, or the Commonwealth of Puerto Rico. See Michigan Laws 449.1101
- Structure: means an object constructed or installed, including, but not limited to, a building, tower, antenna, smokestack, or overhead transmission line. See Michigan Laws 259.481
- Trustee: A person or institution holding and administering property in trust.