Michigan Compiled Laws 174-1962-1-3 Part 3 Territorial Applicability And General Rules (440.1301...440.1310)

• Section 440.1301 Applicability Of Law Of This State Or Other State Or Nation; Applicability Of Act To Transactions Bearing Relation To State; Provisions Specifying Applicable Law.
  (1) Except as otherwise provided in this section, when a transaction bears a reasonable relation to this state and also to another state or...
• Section 440.1302 Agreements; "Unless Otherwise Agreed"; Implication.
  (1) Except as otherwise provided in subsection (2) or elsewhere in this act, the effect of any provision of this act may be varied...
• Section 440.1303 Course Of Performance, Course Of Dealing, Or Usage Of Trade.
  (1) For purposes of this act, a "course of performance" is a sequence of conduct between the parties to a particular transaction that exists...
• Section 440.1304 Good Faith Obligation.
  Every contract or duty within this act imposes an obligation of good faith in its performance and enforcement. History: Add. 2012, Act 86, Eff....
• Section 440.1305 Administration Of Remedies; Enforcement Of Right Or Obligation.
  (1) The remedies provided in this act must be liberally administered to the end that the aggrieved party may be put in as good...
• Section 440.1306 Claim Or Right Arising Out Of Alleged Breach; Discharge.
  A claim or right arising out of an alleged breach may be discharged in whole or in part without consideration by agreement of the...
• Section 440.1307 Prima Facie Evidence Of Certain Documents.
  A document in due form purporting to be a bill of lading, policy or certificate of insurance, official weigher's or inspector's certificate, consular invoice,...
• Section 440.1308 Performance Or Promise Of Performance; Effect Of Reservation Of Rights; Applicability Of Subsection (1) To Accord And Satisfaction.
  (1) A party that with explicit reservation of rights performs or promises performance or assents to performance in a manner demanded or offered by...
• Section 440.1309 Accelerating Payment Or Performance Or Requiring Collateral Or Additional Collateral.
  A term providing that 1 party or that party's successor in interest may accelerate payment or performance or require collateral or additional collateral "at...
• Section 440.1310 Subordination.
  An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate its right to...

Last modified: October 10, 2016