Terms Used In Michigan Laws > Chapter 445 > Act 387 of 2008 - Reverse Vending Machine Antifraud Act

• Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
• 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.
• Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. ^{Source: OCC}
• Beverage container: means that term as defined in section 1 of the beverage container law, MCL 445. See Michigan Laws 445.653
• Beverage container law: means 1976 IL 1, MCL 445. See Michigan Laws 445.653
• 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.
• Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
• 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.
• Dealer: means that term as defined in section 1 of the beverage container law, MCL 445. See Michigan Laws 445.653
• Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
• Department: means the department of treasury. See Michigan Laws 445.653
• Distributor: means that term as defined in section 1 of the beverage container law, MCL 445. See Michigan Laws 445.653
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• Fraud: Intentional deception resulting in injury to another.
• Glass beverage container: means a beverage container composed primarily of glass. See Michigan Laws 445.653
• installation: means to equip an existing, new, or replacement reverse vending machine with vision technology for designated metal, plastic, or glass containers, including all reasonable and necessary technology, equipment, hardware, software, and labor and including 1 year of service by the reverse vending machine vendor. See Michigan Laws 445.653
• Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. ^{Source: OCC}
• judgment: as used in this act , includes decree. See Michigan Laws 600.112
• 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.
• Law enforcement agency: means the attorney general or a law enforcement agency as defined in section 2804 of the public health code, 1978 PA 368, MCL 333. See Michigan Laws 445.653
• Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). ^{Source: OCC}
• Legatee: A beneficiary of a decedent
• Lien: A claim against real or personal property in satisfaction of a debt.
• Majority leader: see Floor Leaders
• Manufacturer: means that term as defined in section 1 of the beverage container law, MCL 445. See Michigan Laws 445.653
• Metal beverage container: means a beverage container composed primarily of metal. See Michigan Laws 445.653
• Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
• 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: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
• Person: means an individual, partnership, corporation, association, limited liability company, governmental entity, or other legal entity. See Michigan Laws 445.653
• Personal property: All property that is not real property.
• Plaintiff: The person who files the complaint in a civil lawsuit.
• Plastic beverage container: means a beverage container composed primarily of plastic. See Michigan Laws 445.653
• Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
• Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
• Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
• Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
• Returnable container: means that term as defined in section 1 of the beverage container law, MCL 445. See Michigan Laws 445.653
• Reverse vending machine: means a device designed to properly identify and process empty beverage containers and provide a means for a deposit refund on returnable containers. See Michigan Laws 445.653
• Reverse vending machine manufacturer: means a person that engages in any of the following and the representatives of that person: