Michigan Laws 390.706 – Act declared public; non-user of privileges; misnomer in instrument
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Terms Used In Michigan Laws 390.706
- Contract: A legal written agreement that becomes binding when signed.
- 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.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
This act shall be and hereby is declared to be a public act; no non-user of any of the privileges hereby granted to the said corporation shall create or produce a forfeiture of the same and no misnomer of said corporation in any deed, will, testament, gift, grant, demise or other instrument, contract or conveyance shall defeat or vitiate the same, provided that the corporation be sufficiently described to ascertain the intent.