Terms Used In Michigan Laws > Chapter 456 > Act 10 of 1927 - Cemetery Corporations; Transfer of Rights to Municipal Corporation

• Contract: A legal written agreement that becomes binding when signed.
• 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.
• Deed: The legal instrument used to transfer title in real property from one person to another.
• 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
• Forgery: The fraudulent signing or alteration of another's name to an instrument such as a deed, mortgage, or check. The intent of the forgery is to deceive or defraud. ^{Source: OCC}
• Legal entity: means a sole proprietorship, partnership, corporation, limited liability company, or any other entity. See Michigan Laws 456.181
• Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
• Municipal corporation: means a county, township, city, or village. See Michigan Laws 456.181
• 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
• Statute: A law passed by a legislature.