Michigan Laws > Chapter 125 > Act 57 of 2018 > Part 1 – General Provisions
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Terms Used In Michigan Laws > Chapter 125 > Act 57 of 2018 > Part 1 - General Provisions
- Approved: means acceptable to the department. See Michigan Laws 333.13301
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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.
- Contract: A legal written agreement that becomes binding when signed.
- Dry cleaning: includes dry dyeing and means the process of removing dirt, grease, paints, and other stains from wearing apparel, textiles, fabrics, and rugs by use of nonaqueous liquid solvents, including:
(i) Immersion and agitation in open vessels. See Michigan Laws 333.13301Dry dyeing: means the process of dyeing clothes or other fabrics of textiles in a solution of dye colors and nonaqueous solvents. See Michigan Laws 333.13301 Fiduciary: A trustee, executor, or administrator. Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity. Lineal descendant: Direct descendant of the same ancestors. 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. 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 person as defined in section 1106 or a governmental entity. See Michigan Laws 333.13301 person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l 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 Statute: A law passed by a legislature. United States: shall be construed to include the district and territories. See Michigan Laws 8.3o