Michigan Laws 600.5807 – Damages for breach of contract; specific performance; period of limitations; bond; deed; mortgage; surety bond; appeal bond; public obligations; other actions
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Terms Used In Michigan Laws 600.5807
- Appeal: A request made after a trial, asking another court (usually the court of appeals) to decide whether the trial was conducted properly. To make such a request is "to appeal" or "to take an appeal." One who appeals is called the appellant.
- 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.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- 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.
- 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.
(1) A person may not bring or maintain an action to recover damages or money due for breach of contract or to enforce the specific performance of a contract unless, after the claim first accrued to the person or to someone through whom the person claims, the person commences the action within the applicable period prescribed by this section.
(2) The period of limitations on an action charging a surety on a bond of a personal representative or guardian is 4 years after the discharge of the personal representative or guardian.
(3) Except as otherwise provided in this section or another statute of this state, the period of limitations is 10 years for an action founded on a bond of a public officer.
(4) The period of limitations on an action founded on a bond executed under section 80 and 81 of 1846 RS 16, MCL 41.80 and 41.81, is 2 years after the expiration of the year for which the constable was elected.
(5) The period of limitations is 10 years for an action founded on a covenant in a deed or mortgage of real estate.
(6) Except as otherwise provided in another statute of this state, the period of limitations is 2 years for an action charging a surety for costs.
(7) The period of limitations is 2 years for an action brought on a bond or recognizance given on appeal from a court in this state.
(8) The period of limitations is 10 years for an action on a bond, note, or other like instrument that is the direct or indirect obligation of, or was issued by although not the obligation of, this state or a county, city, village, township, school district, special assessment district, or other public or quasi-public corporation in this state.
(9) The period of limitations is 6 years for an action to recover damages or money due for breach of contract that is not described in subsections (2) to (8).