Michigan Laws > Chapter 600 > Act 236 of 1961 > Chapter 47
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Terms Used In Michigan Laws > Chapter 600 > Act 236 of 1961 > Chapter 47
- Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Arrest: Taking physical custody of a person by lawful authority.
- Assignment: means any written stock power, bond power, bill of sale, deed, declaration of trust or other instrument of transfer. See Michigan Laws 441.101
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Claim of beneficial interest: means a claim of any interest by a decedent's legatee, distributee, heir or creditor, a beneficiary under a trust, a ward, a beneficial owner of a security registered in the name of a nominee, or a minor owner of a security registered in the name of a custodian, or a claim of any similar interest, whether the claim is asserted by the claimant or by a fiduciary or by any other authorized person on his behalf, and includes a claim that the transfer would be in breach of fiduciary duties. See Michigan Laws 441.101
- Contract: A legal written agreement that becomes binding when signed.
- Conviction: A judgement of guilt against a criminal defendant.
- Corporation: means a private or public corporation, association or trust issuing a security. See Michigan Laws 441.101
- 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.
- Crime: means committing, attempting to commit, conspiring to commit, or soliciting another person to commit any of the following offenses in connection with which the forfeiture of property is sought:
(i) A violation of part 111 of the natural resources and environmental protection act, 1994 PA 451, MCL 324. See Michigan Laws 600.4701Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries. Decedent: A deceased person. Deed: The legal instrument used to transfer title in real property from one person to another. Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime. Dependent: A person dependent for support upon another. 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. Executor: A male person named in a will to carry out the decedent Fiduciary: A trustee, executor, or administrator. Fiduciary: means an executor, administrator, trustee, guardian, committee, conservator, curator, tutor, custodian or nominee. See Michigan Laws 441.101 Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs. Instrumentality of a crime: means any property, other than real property, the use of which contributes directly and materially to the commission of a crime. See Michigan Laws 600.4701 judgment: as used in this act , includes decree. See Michigan Laws 600.112 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. Legatee: A beneficiary of a decedent Lien: A claim against real or personal property in satisfaction of a debt. Mortgage: The written agreement pledging property to a creditor as collateral for a loan. Mortgagee: The person to whom property is mortgaged and who has loaned the money. 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. 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: includes an individual, a corporation, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, 2 or more persons having a joint or common interest, or any other legal or commercial entity. See Michigan Laws 441.101 Person: means an individual, corporation, limited liability company, partnership, or other business entity, or an unincorporated or voluntary association. See Michigan Laws 600.4701 Personal property: All property that is not real property. Plaintiff: The person who files the complaint in a civil lawsuit. Probable cause: A reasonable ground for belief that the offender violated a specific law. Proceeds of a crime: means any property obtained through the commission of a crime, including any appreciation in the value of the property. See Michigan Laws 600.4701 Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide. Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land. Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action. seal: shall be construed to include any of the following:
(a) The impression of the seal on the paper alone. See Michigan Laws 8.3nSecurity: includes any share of stock, bond, debenture, note or other security issued by a corporation which is registered as to ownership on the books of the corporation. See Michigan Laws 441.101 Security interest: means any interest in real or personal property that secures payment or performance of an obligation. See Michigan Laws 600.4701 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 Substituted proceeds of a crime: means any property obtained or any gain realized by the sale or exchange of proceeds of a crime. See Michigan Laws 600.4701 Testimony: Evidence presented orally by witnesses during trials or before grand juries. Transfer: means a change on the books of a corporation in the registered ownership of a security. See Michigan Laws 441.101 Transfer agent: means a person employed or authorized by a corporation to transfer securities issued by the corporation. See Michigan Laws 441.101 Trustee: A person or institution holding and administering property in trust. United States: shall be construed to include the district and territories. See Michigan Laws 8.3o Willful blindness: means the intentional disregard of objective fact that would lead a reasonable person to conclude that the property was derived from unlawful activity or would be used for an unlawful purpose. See Michigan Laws 600.4701