Michigan Laws > Chapter 454 > Act 188 of 1857 – Mechanics’ Associations
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Terms Used In Michigan Laws > Chapter 454 > Act 188 of 1857 - Mechanics' Associations
- 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.
- 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.
- Credit account: means the account through which a business organization or financial institution allows a person or organization to obtain goods, property, services, or any other thing of value on credit. See Michigan Laws 750.157m
- Credit card: means either of the following:
(i) Any instrument or device which is sold, issued, or otherwise distributed by a business organization or financial institution for the use of the person or organization identified on the instrument or device for obtaining goods, property, services, or anything of value on credit. See Michigan Laws 750.157mCryptocurrency: means digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, and that operates independently of a central bank. See Michigan Laws 750.157m Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime. Deposit account: includes share, deposit, member, and savings accounts of financial institutions. See Michigan Laws 750.157m Deviceholder: means either of the following:
(i) The person or organization who requests a financial transaction device and to whom or for whose benefit a financial transaction device is subsequently issued. See Michigan Laws 750.157mDevise: To gift property by will. Distributed ledger technology: means any distributed ledger protocol and supporting infrastructure, including blockchain, that uses a distributed, decentralized, shared, and replicated ledger, whether use of the ledger is public or private, permissioned or permissionless, and that may include the use of electronic currencies or electronic tokens as a medium of electronic exchange. See Michigan Laws 750.157m Electronic funds transfer: The transfer of money between accounts by consumer electronic systems-such as automated teller machines (ATMs) and electronic payment of bills-rather than by check or cash. (Wire transfers, checks, drafts, and paper instruments do not fall into this category.) Source: OCC 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. felony: when used in this act, shall be construed to mean an offense for which the offender, on conviction may be punished by death, or by imprisonment in state prison. See Michigan Laws 750.7 Financial institution: means a bank, savings and loan association, or credit union, and includes a corporation wholly owned by a financial institution or by the holding company parent of a financial institution. See Michigan Laws 750.157m Financial transaction device: means any of the following:
(i) An electronic funds transfer card. See Michigan Laws 750.157mGift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value. Impeachment: (1) The process of calling something into question, as in "impeaching the testimony of a witness." (2) The constitutional process whereby the House of Representatives may "impeach" (accuse of misconduct) high officers of the federal government for trial in the Senate. Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Mortgage: The written agreement pledging property to a creditor as collateral for a loan. 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. organization: means any of the following:
(A) A dental care corporation incorporated under 1963 PA 125, MCL 550. See Michigan Laws 750.157mperson: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l Presiding officer: A majority-party Senator who presides over the Senate and is charged with maintaining order and decorum, recognizing Members to speak, and interpreting the Senate's rules, practices and precedents. Proprietary account: means the account which is maintained by a business organization in the name of an individual person or organization and through which the business organization allows the person or organization to obtain goods, property, services, or any other thing of value on credit. See Michigan Laws 750.157m Quorum: The number of legislators that must be present to do business. 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 Testify: Answer questions in court. Testimony: Evidence presented orally by witnesses during trials or before grand juries. Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence. Trustee: A person or institution holding and administering property in trust.