Terms Used In Michigan Laws > Chapter 124 > Act 55 of 1963 - Mass Transportation System Authorities

• 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.
• Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
• Authority: means a public transportation authority formed under this act. See Michigan Laws 124.351
• Board: means the governing body of an authority. See Michigan Laws 124.351
• Buyer: means a person who buys or contracts to buy goods. See Michigan Laws 440.2103
• Continuance: Putting off of a hearing ot trial until a later time.
• 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
• Devise: To gift property by will.
• Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
• Goods: means baggage, accessories, or other personal property carried by or accompanying persons using public transportation service. See Michigan Laws 124.351
• Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Lien: A claim against real or personal property in satisfaction of a debt.
• person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
• present sale: means a sale which is accomplished by the making of the contract. See Michigan Laws 440.2106
• 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 The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded.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.
• 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
• Service area: means that area in which a public authority incorporated under this act operates a mass transportation system or causes a mass transportation system to operate. See Michigan Laws 124.351
• 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
• Signed: includes any symbol executed or adopted by a party with present intention to adopt or accept a writing. See Michigan Laws 440.1201
• Taxable property: means the property taxable under the general property tax act, Act No. See Michigan Laws 124.351
• 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
• writing: includes printing, typewriting, or any other intentional reduction to tangible form. See Michigan Laws 440.1201