reglab/housing_qa huggingface dataset:
MI Comp L § 440.2905 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 2A - Leases (440.2801...440.2982)|174-1962-2A-3 - Part 3 Effect of Lease Contract (440.2901...440.2911)|Section 440.2905 - Transfer From Lessee to Buyer or Sublessee; Power; Rights; Buyer in Ordinary Course of Business; Entrustment; Certificate of Title.

440.2905 Transfer from lessee to buyer or sublessee; power; rights; buyer in ordinary course of business; entrustment; certificate of title. Sec. 2A305.  (1) Subject to section 2A303, a buyer or sublessee from the lessee of goods under an existing lease contract obtains, to the extent of the interest transferred, the leasehold interest in the goods that the lessee had or had power to transfer, and except as provided in subsection (2) and section 2A511(4), takes subject to the existing lease contract. A lessee with a voidable leasehold interest has power to transfer a good leasehold interest to a good faith buyer for value or a good faith sublessee for value, but only to the extent set forth in the preceding sentence. When goods have been delivered under a transaction of lease, the lessee has that power even though any of the following apply:  (a) The lessor was deceived as to the identity of the lessee.  (b) The delivery was in exchange for a check which is later dishonored.  (c) The delivery was procured through fraud punishable as larcenous under the criminal law.  (2) A buyer in the ordinary course of business or a sublessee in the ordinary course of business from a lessee who is a merchant dealing in goods of that kind to whom the goods were entrusted by the lessor obtains, to the extent of the interest transferred, all of the lessor's and lessee's rights to the goods, and takes free of the existing lease contract.  (3) A buyer or sublessee from the lessee of goods that are subject to an existing lease contract and are covered by a certificate of title issued under a statute of this state or of another jurisdiction takes no greater rights than those provided both by this section and by the certificate of title statute. History: Add. 1992, Act 101, Eff. Sept. 30, 1992
MI Comp L § 440.2906 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 2A - Leases (440.2801...440.2982)|174-1962-2A-3 - Part 3 Effect of Lease Contract (440.2901...440.2911)|Section 440.2906 - Materials or Services Provided With Respect to Goods Subject to Lease Contract; Lien; Priority; Exception.

440.2906 Materials or services provided with respect to goods subject to lease contract; lien; priority; exception. Sec. 2A306.  If a person in the ordinary course of his or her business furnishes services or materials with respect to goods subject to a lease contract, a lien upon those goods in the possession of that person given by statute or rule of law for those materials or services takes priority over any interest of the lessor or lessee under the lease contract or this article unless the lien is created by statute and the statute provides otherwise or unless the lien is created by rule of law and the rule of law provides otherwise. History: Add. 1992, Act 101, Eff. Sept. 30, 1992
MI Comp L § 440.2907 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 2A - Leases (440.2801...440.2982)|174-1962-2A-3 - Part 3 Effect of Lease Contract (440.2901...440.2911)|Section 440.2907 - Creditor of Lessee; Rights; Taking Leasehold Interest Subject to Security Interest.

440.2907 Creditor of lessee; rights; taking leasehold interest subject to security interest. Sec. 2A307.  (1) Except as otherwise provided in section 2A306, a creditor of a lessee takes subject to the lease contract.  (2) Except as otherwise provided in subsection (3) and in sections 2A306 and 2A308, a creditor of a lessor takes subject to the lease contract unless the creditor holds a lien that attached to the goods before the lease contract became enforceable.  (3) Except as otherwise provided in sections 9317, 9321, and 9323, a lessee takes a leasehold interest subject to a security interest held by a creditor of the lessor. History: Add. 1992, Act 101, Eff. Sept. 30, 1992 ;-- Am. 2000, Act 348, Eff. July 1, 2001
MI Comp L § 440.2908 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 2A - Leases (440.2801...440.2982)|174-1962-2A-3 - Part 3 Effect of Lease Contract (440.2901...440.2911)|Section 440.2908 - Creditor of Lessor or Seller; Lease or Sale Contract Treated as Void; Fraudulent Retention or Possession of Goods; Security for Preexisting Claim.

440.2908 Creditor of lessor or seller; lease or sale contract treated as void; fraudulent retention or possession of goods; security for preexisting claim. Sec. 2A308.  (1) A creditor of a lessor in possession of goods subject to a lease contract may treat the lease contract as void if as against the creditor retention of possession by the lessor is fraudulent under any statute or rule of law, but retention of possession in good faith and current course of trade by the lessor for a commercially reasonable time after the lease contract becomes enforceable is not fraudulent.  (2) Nothing in this article impairs the rights of creditors of a lessor if the lease contract (i) becomes enforceable, not in current course of trade but in satisfaction of or as security for a preexisting claim for money, security, or the like, and (ii) is made under circumstances which under any statute or rule of law apart from this article would constitute the transaction a fraudulent transfer or voidable preference.  (3) A creditor of a seller may treat a sale or an identification of goods to a contract for sale as void if as against the creditor retention of possession by the seller is fraudulent under any statute or rule of law, but retention of possession of the goods pursuant to a lease contract entered into by the seller as lessee and the buyer as lessor in connection with the sale or identification of the goods is not fraudulent if the buyer bought for value and in good faith. History: Add. 1992, Act 101, Eff. Sept. 30, 1992
MI Comp L § 440.2910 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 2A - Leases (440.2801...440.2982)|174-1962-2A-3 - Part 3 Effect of Lease Contract (440.2901...440.2911)|Section 440.2910 - Goods as Accessions; Priority of Interests; Right to Remove Goods; Reimbursement.

440.2910 Goods as accessions; priority of interests; right to remove goods; reimbursement. Sec. 2A310.  (1) Goods are accessions when they are installed in or affixed to other goods.  (2) The interest of a lessor or a lessee under a lease contract entered into before the goods became accessions is superior to all interests in the whole except as stated in subsection (4).  (3) The interest of a lessor or a lessee under a lease contract entered into at the time or after the goods became accessions is superior to all subsequently acquired interests in the whole except as stated in subsection (4) but is subordinate to interests in the whole existing at the time the lease contract was made unless the holders of such interests in the whole have in writing consented to the lease or disclaimed an interest in the goods as part of the whole.  (4) The interest of a lessor or a lessee under a lease contract described in subsection (2) or (3) is subordinate to the interest of either of the following:  (a) A buyer in the ordinary course of business or a lessee in the ordinary course of business of any interest in the whole acquired after the goods became accessions.  (b) A creditor with a security interest in the whole perfected before the lease contract was made to the extent that the creditor makes subsequent advances without knowledge of the lease contract.  (5) When under subsections (2) or (3) and (4) a lessor or a lessee of accessions holds an interest that is superior to all interests in the whole, the lessor or the lessee may (i) on default, expiration, termination, or cancellation of the lease contract by the other party but subject to the provisions of the lease contract and this article, or (ii) if necessary to enforce his or her other rights and remedies under this article, remove the goods from the whole, free and clear of all interests in the whole, but he or she must reimburse any holder of an interest in the whole who is not the lessee and who has not otherwise agreed for the cost of repair of any physical injury but not for any diminution in value of the whole caused by the absence of the goods removed or by any necessity for replacing them. A person entitled to reimbursement may refuse permission to remove until the party seeking removal gives adequate security for the performance of this obligation. History: Add. 1992, Act 101, Eff. Sept. 30, 1992
MI Comp L § 440.2911 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 2A - Leases (440.2801...440.2982)|174-1962-2A-3 - Part 3 Effect of Lease Contract (440.2901...440.2911)|Section 440.2911 - Subordination by Agreement.

440.2911 Subordination by agreement. Sec. 2A311.  Nothing in this article prevents subordination by agreement by any person entitled to priority. History: Add. 1992, Act 101, Eff. Sept. 30, 1992
MI Comp L § 440.2931 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 2A - Leases (440.2801...440.2982)|174-1962-2A-4 - Part 4 Performance of Lease Contract: Repudiated, Substituted, and Excused (440.2931...440.2937)|Section 440.2931 - Lease Contract; Demanding Adequate Assurance of Due Performance; Repudiation; Determination of Adequacy; Acceptance of Nonconforming Delivery or Payment.

440.2931 Lease contract; demanding adequate assurance of due performance; repudiation; determination of adequacy; acceptance of nonconforming delivery or payment. Sec. 2A401.  (1) A lease contract imposes an obligation on each party that the other's expectation of receiving due performance will not be impaired.   (2) If reasonable grounds for insecurity arise with respect to the performance of either party, the insecure party may demand in writing adequate assurance of due performance. Until the insecure party receives that assurance, if commercially reasonable the insecure party may suspend any performance for which he or she has not already received the agreed return.  (3) A repudiation of the lease contract occurs if assurance of due performance adequate under the circumstances of the particular case is not provided to the insecure party within a reasonable time, not to exceed 30 days after receipt of a demand by the other party.  (4) Between merchants, the reasonableness of grounds for insecurity and the adequacy of any assurance offered must be determined according to commercial standards.  (5) Acceptance of any nonconforming delivery or payment does not prejudice the aggrieved party's right to demand adequate assurance of future performance. History: Add. 1992, Act 101, Eff. Sept. 30, 1992
MI Comp L § 440.2932 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 2A - Leases (440.2801...440.2982)|174-1962-2A-4 - Part 4 Performance of Lease Contract: Repudiated, Substituted, and Excused (440.2931...440.2937)|Section 440.2932 - Repudiation of Lease Contract.

440.2932 Repudiation of lease contract. Sec. 2A402.  If either party repudiates a lease contract with respect to a performance not yet due under the lease contract, the loss of which performance will substantially impair the value of the lease contract to the other, the aggrieved party may do any of the following:  (a) For a commercially reasonable time, await retraction of repudiation and performance by the repudiating party.  (b) Make demand pursuant to section 2A401 and await assurance of future performance adequate under the circumstances of the particular case.  (c) Resort to any right or remedy upon default under the lease contract or this article, even though the aggrieved party has notified the repudiating party that the aggrieved party would await the repudiating party's performance and assurance and has urged retraction. In addition, whether or not the aggrieved party is pursuing 1 of the foregoing remedies, the aggrieved party may suspend performance or, if the aggrieved party is the lessor, proceed in accordance with the provisions of this article on the lessor's right to identify goods to the lease contract notwithstanding default or to salvage unfinished goods (section 2A524). History: Add. 1992, Act 101, Eff. Sept. 30, 1992
MI Comp L § 440.2933 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 2A - Leases (440.2801...440.2982)|174-1962-2A-4 - Part 4 Performance of Lease Contract: Repudiated, Substituted, and Excused (440.2931...440.2937)|Section 440.2933 - Retraction of Repudiation.

440.2933 Retraction of repudiation. Sec. 2A403.  (1) Until the repudiating party's next performance is due, the repudiating party can retract the repudiation unless, since the repudiation, the aggrieved party has canceled the lease contract or materially changed the aggrieved party's position or otherwise indicated that the aggrieved party considers the repudiation final.  (2) Retraction may be by any method that clearly indicates to the aggrieved party that the repudiating party intends to perform under the lease contract and includes any assurance demanded under section 2A401.  (3) Retraction reinstates a repudiating party's rights under a lease contract with due excuse and allowance to the aggrieved party for any delay occasioned by the repudiation. History: Add. 1992, Act 101, Eff. Sept. 30, 1992
MI Comp L § 440.2934 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 2A - Leases (440.2801...440.2982)|174-1962-2A-4 - Part 4 Performance of Lease Contract: Repudiated, Substituted, and Excused (440.2931...440.2937)|Section 440.2934 - Substituted Performance; Tender and Acceptance; Failure of Payment Due to Government Regulation.

440.2934 Substituted performance; tender and acceptance; failure of payment due to government regulation. Sec. 2A404.  (1) If without fault of the lessee, the lessor and the supplier, the agreed berthing, loading, or unloading facilities fail or the agreed type of carrier becomes unavailable or the agreed manner of delivery otherwise becomes commercially impracticable, but a commercially reasonable substitute is available, the substitute performance must be tendered and accepted.  (2) If the agreed means or manner of payment fails because of domestic or foreign governmental regulation, then the following apply:   (a) The lessor may withhold or stop delivery or cause the supplier to withhold or stop delivery unless the lessee provides a means or manner of payment that is commercially a substantial equivalent.  (b) If delivery has already been taken, payment by the means or in the manner provided by the regulation discharges the lessee's obligation unless the regulation is discriminatory, oppressive, or predatory. History: Add. 1992, Act 101, Eff. Sept. 30, 1992
MI Comp L § 440.2935 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 2A - Leases (440.2801...440.2982)|174-1962-2A-4 - Part 4 Performance of Lease Contract: Repudiated, Substituted, and Excused (440.2931...440.2937)|Section 440.2935 - Substituted Performance; Delay or Nondelivery; Allocating Production and Deliveries; Notification.

440.2935 Substituted performance; delay or nondelivery; allocating production and deliveries; notification. Sec. 2A405.  Subject to section 2A404 on substituted performance, the following rules apply:  (a) Delay in delivery or nondelivery in whole or in part by a lessor or a supplier who complies with subdivisions (b) and (c) is not a default under the lease contract if performance as agreed has been made impracticable by the occurrence of a contingency the nonoccurrence of which was a basic assumption on which the lease contract was made or by compliance in good faith with any applicable foreign or domestic governmental regulation or order, whether or not the regulation or order later proves to be invalid.  (b) If the causes mentioned in subdivision (a) affect only part of the lessor's or the supplier's capacity to perform, he or she shall allocate production and deliveries among his or her customers but at his or her option may include regular customers not then under contract for sale or lease as well as his or her own requirements for further manufacture. He or she may so allocate in any manner that is fair and reasonable.  (c) The lessor seasonably shall notify the lessee and in the case of a finance lease the supplier seasonably shall notify the lessor and the lessee, if known, that there will be delay or nondelivery and, if allocation is required under subdivision (b), of the estimated quota thus made available for the lessee. History: Add. 1992, Act 101, Eff. Sept. 30, 1992
MI Comp L § 440.2936 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 2A - Leases (440.2801...440.2982)|174-1962-2A-4 - Part 4 Performance of Lease Contract: Repudiated, Substituted, and Excused (440.2931...440.2937)|Section 440.2936 - Notification by Lessor of Delay or Allocation; Rights of Lessee; Lapse of Lease Contract.

440.2936 Notification by lessor of delay or allocation; rights of lessee; lapse of lease contract. Sec. 2A406.  (1) If the lessee receives notification of a material or indefinite delay or an allocation justified under section 2A405, the lessee may by written notification to the lessor as to any goods involved, and with respect to all of the goods if under an installment lease contract the value of the whole lease contract is substantially impaired (section 2A510) may do either of the following:  (a) Terminate the lease contract (section 2A505(2)).   (b) Except in a finance lease that is not a consumer lease, modify the lease contract by accepting the available quota in substitution, with due allowance from the rent payable for the balance of the lease term for the deficiency but without further right against the lessor.  (2) If, after receipt of a notification from the lessor under section 2A405, the lessee fails so to modify the lease agreement within a reasonable time not exceeding 30 days, the lease contract lapses with respect to any deliveries affected. History: Add. 1992, Act 101, Eff. Sept. 30, 1992
MI Comp L § 440.2937 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 2A - Leases (440.2801...440.2982)|174-1962-2A-4 - Part 4 Performance of Lease Contract: Repudiated, Substituted, and Excused (440.2931...440.2937)|Section 440.2937 - Finance Lease Other Than Consumer Lease; Effect of Lessee's Promises; Acceptance of Goods by Lessee; Enforcement; Validity.

440.2937 Finance lease other than consumer lease; effect of lessee's promises; acceptance of goods by lessee; enforcement; validity. Sec. 2A407.  (1) In the case of a finance lease that is not a consumer lease, the lessee's promises under the lease contract become irrevocable and independent upon the lessee's acceptance of the goods.  (2) A promise that has become irrevocable and independent under subsection (1) is (i) effective and enforceable between the parties, and by or against third parties including assignees of the parties, and (ii) not subject to cancellation, termination, modification, repudiation, excuse, or substitution without the consent of the party to whom the promise runs.  (3) This section does not affect the validity under any other law of a covenant in any lease contract making the lessee's promises irrevocable and independent upon the lessee's acceptance of the goods. History: Add. 1992, Act 101, Eff. Sept. 30, 1992
MI Comp L § 440.2951 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 2A - Leases (440.2801...440.2982)|174-1962-2A-5 - Part 5 Default (440.2951...440.2982)|Section 440.2951 - Default; Rights and Remedies; Self-Help; Enforcement Covering Real Property and Goods.

440.2951 Default; rights and remedies; self-help; enforcement covering real property and goods.Sec. 2A501.  (1) Whether the lessor or the lessee is in default under a lease contract is determined by the lease agreement and this article.  (2) If the lessor or the lessee is in default under the lease contract, the party seeking enforcement has rights and remedies as provided in this article and, except as limited by this article, as provided in the lease agreement.  (3) If the lessor or the lessee is in default under the lease contract, the party seeking enforcement may reduce the party's claim to judgment, or otherwise enforce the lease contract by self-help or any available judicial procedure or nonjudicial procedure, including administrative proceeding, arbitration, or the like, in accordance with this article.  (4) Except as otherwise provided in section 1305(1) or this article or the lease agreement, the rights and remedies referred to in subsections (2) and (3) are cumulative.   (5) If the lease agreement covers both real property and goods, the party seeking enforcement may proceed under this part as to the goods, or under other applicable law as to both the real property and the goods in accordance with that party's rights and remedies in respect of the real property, in which case this part does not apply. History: Add. 1992, Act 101, Eff. Sept. 30, 1992 ;-- Am. 2012, Act 86, Eff. July 1, 2013
MI Comp L § 440.2952 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 2A - Leases (440.2801...440.2982)|174-1962-2A-5 - Part 5 Default (440.2951...440.2982)|Section 440.2952 - Notice of Default or Enforcement.

440.2952 Notice of default or enforcement. Sec. 2A502.  Except as otherwise provided in this article or the lease agreement, the lessor or lessee in default under the lease contract is not entitled to notice of default or notice of enforcement from the other party to the lease agreement. History: Add. 1992, Act 101, Eff. Sept. 30, 1992