Terms Used In Michigan Laws > Chapter 750 > Act 328 of 1931 > Chapter I - Definitions

• Agreement: means the bargain of the parties in fact, as found in their language or inferred from other circumstances and from rules, regulations, and procedures given the effect of agreements under laws otherwise applicable to a particular transaction. See Michigan Laws 450.832
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• Computer program: means a set of statements or instructions to be used directly or indirectly in an information processing system in order to bring about a certain result. See Michigan Laws 450.832
• Contract: A legal written agreement that becomes binding when signed.
• Contract: means the total legal obligation resulting from the parties' agreement as affected by this act and other applicable law. See Michigan Laws 450.832
• Conviction: A judgement of guilt against a criminal defendant.
• 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.
• Electronic: means relating to technology having electrical, digital, magnetic, wireless, optical, electromagnetic, or similar capabilities. See Michigan Laws 450.832
• Electronic record: means a record created, generated, sent, communicated, received, or stored by electronic means. See Michigan Laws 450.832
• Electronic signature: means an electronic sound, symbol, or process attached to or logically associated with a record and executed or adopted by a person with the intent to sign the record. See Michigan Laws 450.832
• 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
• Information: means , but is not limited to, data, text, images, sounds, codes, computer programs, software and databases. See Michigan Laws 450.832
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• 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 an individual, sole proprietorship, partnership, association, or corporation. See Michigan Laws 450.792
• Person: means an individual, corporation, partnership, limited liability company, association, governmental entity, or any other legal entity. See Michigan Laws 450.832
• person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Record: means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. See Michigan Laws 450.832
• State: means a state of the United States, the District of Columbia, Puerto Rico, the United States Virgin Islands, or any territory or possession subject to the jurisdiction of the United States. See Michigan Laws 450.832
• 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.
• Transaction: means an action or set of actions occurring between 2 or more persons relating to the conduct of business, commercial, or governmental affairs. See Michigan Laws 450.832
• Uniform Commercial Code: A set of statutes enacted by the various states to provide consistency among the states' commercial laws. It includes negotiable instruments, sales, stock transfers, trust and warehouse receipts, and bills of lading. ^{Source: OCC}
• United States: shall be construed to include the district and territories. See Michigan Laws 8.3o