Terms Used In Michigan Laws > Chapter 600 > Act 236 of 1961 > Chapter 35 - The Voluntary Dissolution and Winding Up of Corporations

• Art merchant: means a person who deals in multiples, or who by his or her occupation holds himself or herself out as having knowledge or skill peculiar to a person who deals in multiples, or who employs a broker, agent, or other intermediary who holds himself or herself out as having knowledge or skill peculiar to a person who deals in multiples. See Michigan Laws 442.351a
• Artist: means the creator of an image depicted by or in a master. See Michigan Laws 442.351a
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Common law: The legal system that originated in England and is now in use in the United States. It is based on judicial decisions rather than legislative action.
• 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.
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. ^{Source: U.S. Courts}
• in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q
• judgment: as used in this act , includes decree. See Michigan Laws 600.112
• Limited edition: means a number of multiples which are produced from a single master, all of which depict the same image, and which bear numbers or other markings to denote that production of multiples from that master is limited to a stated maximum number, or which are otherwise held out as limited to a maximum number. See Michigan Laws 442.351a
• Master: means a printing plate, stone, block, screen, photographic negative, or other material which contains an image used to produce multiples. See Michigan Laws 442.351a
• Multiples: means prints, photographs, photographic negatives, or other objects of visual art which are produced in more than 1 copy and sold, offered for sale, or consigned in, into, or from the state for value exceeding $100. See Michigan Laws 442.351a
• Proofs: means multiples which depict the same image as, and which are produced from the same master used to produce, a limited edition, but which, whether or not designated as proofs, are set aside from and are in addition to the limited edition to which they relate. See Michigan Laws 442.351a
• Sale: means sale or exchange. See Michigan Laws 442.351a
• Signed: means autographed by the artist's own hand, and not by means of mechanical or photographic reproduction, after the multiple was produced, whether or not the master was signed. See Michigan Laws 442.351a
• 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
• 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.
• Written instrument: means a written agreement, bill of sale, invoice, certificate of authenticity, catalog, or other memorandum describing a multiple which is to be sold or consigned by an art merchant. See Michigan Laws 442.351a