Michigan Laws 445.866 – Waiver of act as to buyers’ protection prohibited
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Terms Used In Michigan Laws 445.866
- buyer: means a person that buys or agrees to buy goods or obtain services or agrees to have services rendered or furnished from a retail seller. See Michigan Laws 445.852
- Contract: A legal written agreement that becomes binding when signed.
- Retail charge agreement: means an instrument prescribing the terms of a secured or unsecured retail installment transaction that may be made under the instrument from time to time and under the terms of which a time price differential is to be computed in relation to the buyer's unpaid balance from time to time. See Michigan Laws 445.852
No act or agreement of the retail buyer before or at the time of the making of a retail installment contract, retail charge agreement or purchase thereunder shall constitute a valid waiver of any of the provisions of this act or of any remedies granted to the buyer by law.