reglab/housing_qa huggingface dataset:
MI Comp L § 440.2978 (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 440.2978 - Retention or Disposition of Goods by Lessor; Damages.

440.2978 Retention or disposition of goods by lessor; damages.Sec. 2A528.  (1) Except as otherwise provided with respect to damages liquidated in the lease agreement under section 2A504 or otherwise determined pursuant to agreement of the parties under sections 1302 and 2A503, if a lessor elects to retain the goods or a lessor elects to dispose of the goods and disposition is by lease agreement that for any reason does not qualify for treatment under section 2A527(2), or is by sale or otherwise, the lessor may recover from the lessee as damages for a default of the type described in section 2A523(1) or 2A523(3)(a), or, if agreed, for other default of the lessee, (i) accrued and unpaid rent as of the date of default if the lessee has never taken possession of the goods, or, if the lessee has taken possession of the goods, as of the date the lessor repossesses the goods or an earlier date on which the lessee makes a tender of the goods to the lessor, (ii) the present value as of the date determined under this subsection of the total rent for the then remaining lease term of the original lease agreement minus the present value as of the same date of the market rent at the place where the goods are located computed for the same lease term, and any incidental damages allowed under section 2A530, less expenses saved in consequence of the lessee's default.  (2) If the measure of damages provided in subsection (1) is inadequate to put a lessor in as good a position as performance would have, the measure of damages is the present value of the profit, including reasonable overhead, the lessor would have made from full performance by the lessee, together with any incidental damages allowed under section 2A530, due allowance for costs reasonably incurred and due credit for payments or proceeds of disposition. History: Add. 1992, Act 101, Eff. Sept. 30, 1992 ;-- Am. 2012, Act 86, Eff. July 1, 2013
MI Comp L § 440.2980 (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 440.2980 - Incidental Damages.

440.2980 Incidental damages. Sec. 2A530.  Incidental damages to an aggrieved lessor include any commercially reasonable charges, expenses, or commissions incurred in stopping delivery, in the transportation, care and custody of goods after the lessee's default, in connection with return or disposition of the goods, or otherwise resulting from the default. History: Add. 1992, Act 101, Eff. Sept. 30, 1992
MI Comp L § 440.2981 (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 440.2981 - Third Party Causing Injury.

440.2981 Third party causing injury. Sec. 2A531.  (1) If a third party so deals with goods that have been identified to a lease contract as to cause actionable injury to a party to the lease contract, (i) the lessor has a right of action against the third party, and (ii) the lessee also has a right of action against the third party if any of the following apply to the lessee:  (a) Has a security interest in the goods.  (b) Has an insurable interest in the goods.  (c) Bears the risk of loss under the lease contract or has since the injury assumed that risk as against the lessor and the goods have been converted or destroyed.  (2) If at the time of the injury the party plaintiff did not bear the risk of loss as against the other party to the lease contract and there is no arrangement between them for disposition of the recovery, his or her suit or settlement, subject to his or her own interest, is as a fiduciary for the other party to the lease contract.  (3) Either party with the consent of the other may sue for the benefit of whom it may concern. History: Add. 1992, Act 101, Eff. Sept. 30, 1992
MI Comp L § 440.2982 (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 440.2982 - Additional Damages.

440.2982 Additional damages. Sec. 2A532.  In addition to any other recovery permitted by this article or other law, the lessor may recover from the lessee an amount that will fully compensate the lessor for any loss of or damage to the lessor's residual interest in the goods caused by the default of the lessee. History: Add. 1992, Act 101, Eff. Sept. 30, 1992
MI Comp L § 440.3101 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 3 - Negotiable Instruments (440.3101...440.3805)|174-1962-3-1 - Part 1 General Provisions and Definitions (440.3101...440.3122)|Section 440.3101 - Short Title; Article.

440.3101 Short title; article. Sec. 3101.  This article shall be known and may be cited as "uniform commercial code—negotiable instruments". History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993
MI Comp L § 440.3102 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 3 - Negotiable Instruments (440.3101...440.3805)|174-1962-3-1 - Part 1 General Provisions and Definitions (440.3101...440.3122)|Section 440.3102 - Scope; Limitations; Conflict of Laws.

440.3102 Scope; limitations; conflict of laws. Sec. 3102.  (1) This article applies to negotiable instruments. It does not apply to money, to payment orders governed by article 4a, or to securities governed by article 8.  (2) If there is conflict between this article and article 4 or 9, articles 4 and 9 govern.  (3) Regulations of the board of governors of the federal reserve system and operating circulars of the federal reserve banks supersede any inconsistent provision of this article to the extent of the inconsistency. History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993
MI Comp L § 440.3104 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 3 - Negotiable Instruments (440.3101...440.3805)|174-1962-3-1 - Part 1 General Provisions and Definitions (440.3101...440.3122)|Section 440.3104 - Additional Definitions.

440.3104 Additional definitions. Sec. 3104.  (1) Except as provided in subsections (3) and (4), "negotiable instrument" means an unconditional promise or order to pay a fixed amount of money, with or without interest or other charges described in the promise or order, if all of the following apply:   (a) It is payable to bearer or to order at the time it is issued or first comes into possession of a holder.  (b) It is payable on demand or at a definite time.  (c) It does not state any other undertaking or instruction by the person promising or ordering payment to do any act in addition to the payment of money, but the promise or order may contain an undertaking or power to give, maintain, or protect collateral to secure payment, an authorization or power to the holder to confess judgment or realize on or dispose of collateral, or a waiver of the benefit of any law intended for the advantage or protection of an obligor.  (2) "Instrument" means a negotiable instrument.  (3) An order that meets all of the requirements of subsection (1), except subdivision (a), and otherwise falls within the definition of "check" in subsection (6) is a negotiable instrument and a check.   (4) A promise or order other than a check is not an instrument if, at the time it is issued or first comes into possession of a holder, it contains a conspicuous statement, however expressed, to the effect that the promise or order is not negotiable or is not an instrument governed by this article.  (5) An instrument is a "note" if it is a promise and is a "draft" if it is an order. If an instrument falls within the definition of both "note" and "draft", a person entitled to enforce the instrument may treat it as either.  (6) "Check" means a draft, other than a documentary draft, payable on demand and drawn on a bank or a cashier's check or teller's check. An instrument may be a check even though it is described on its face by another term, such as "money order".  (7) "Cashier's check" means a draft with respect to which the drawer and drawee are the same bank or branches of the same bank.   (8) "Teller's check" means a draft drawn by a bank on another bank, or payable at or through a bank.  (9) "Traveler's check" means an instrument that is payable on demand, is drawn on or payable at or through a bank, is designated by the term "traveler's check" or by a substantially similar term, and requires, as a condition to payment, a countersignature by a person whose specimen signature appears on the instrument.  (10) "Certificate of deposit" means an instrument containing an acknowledgment by a bank that a sum of money has been received by the bank and a promise by the bank to repay the sum of money. A certificate of deposit is a note of the bank. History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993
MI Comp L § 440.3105 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 3 - Negotiable Instruments (440.3101...440.3805)|174-1962-3-1 - Part 1 General Provisions and Definitions (440.3101...440.3122)|Section 440.3105 - “Issue” and “Issuer” Defined; Effect of Unissued or Conditionally Issued Instrument.

440.3105 “Issue” and “issuer” defined; effect of unissued or conditionally issued instrument. Sec. 3105.  (1) "Issue" means the first delivery of an instrument by the maker or drawer, whether to a holder or nonholder, for the purpose of giving rights on the instrument to any person.  (2) An unissued instrument, or an unissued incomplete instrument that is completed, is binding on the maker or drawer, but nonissuance is a defense. An instrument that is conditionally issued or is issued for a special purpose is binding on the maker or drawer, but failure of the condition or special purpose to be fulfilled is a defense.  (3) "Issuer" applies to issued and unissued instruments and means a maker or drawer of an instrument. History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1964, Act 250, Eff. Aug. 28, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993
MI Comp L § 440.3106 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 3 - Negotiable Instruments (440.3101...440.3805)|174-1962-3-1 - Part 1 General Provisions and Definitions (440.3101...440.3122)|Section 440.3106 - Unconditional Status of Promise or Order.

440.3106 Unconditional status of promise or order.Sec. 3106.  (1) Except as provided in this section, for the purposes of section 3104(1), a promise or order is unconditional unless it states 1 of the following:  (a) An express condition to payment.  (b) That the promise or order is subject to or governed by another record.  (c) That rights or obligations with respect to the promise or order are stated in another record. A reference to another record does not of itself make the promise or order conditional.  (2) A promise or order is not made conditional by or because of either of the following:  (a) By a reference to another record for a statement of rights with respect to collateral, prepayment, or acceleration.  (b) Because payment is limited to resort to a particular fund or source.  (3) If a promise or order requires, as a condition to payment, a countersignature by a person whose specimen signature appears on the promise or order, the condition does not make the promise or order conditional for the purposes of section 3104(1). If the person whose specimen signature appears on an instrument fails to countersign the instrument, the failure to countersign is a defense to the obligation of the issuer, but the failure does not prevent a transferee of the instrument from becoming a holder of the instrument.  (4) If a promise or order at the time it is issued or first comes into possession of a holder contains a statement, required by applicable statutory or administrative law, to the effect that the rights of a holder or transferee are subject to claims or defenses that the issuer could assert against the original payee, the promise or order is not thereby made conditional for the purposes of section 3104(1); but if the promise or order is an instrument, there cannot be a holder in due course of the instrument. History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993 ;-- Am. 2014, Act 101, Imd. Eff. Apr. 10, 2014
MI Comp L § 440.3107 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 3 - Negotiable Instruments (440.3101...440.3805)|174-1962-3-1 - Part 1 General Provisions and Definitions (440.3101...440.3122)|Section 440.3107 - Payment in Foreign Money.

440.3107 Payment in foreign money. Sec. 3107.  Unless the instrument otherwise provides, an instrument that states the amount payable in foreign money may be paid in the foreign money or in an equivalent amount in dollars calculated by using the current bank-offered spot rate at the place of payment for the purchase of dollars on the day on which the instrument is paid. History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993
MI Comp L § 440.3108 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 3 - Negotiable Instruments (440.3101...440.3805)|174-1962-3-1 - Part 1 General Provisions and Definitions (440.3101...440.3122)|Section 440.3108 - Instrument Payable on Demand, at Definite Time, or at Fixed Date.

440.3108 Instrument payable on demand, at definite time, or at fixed date. Sec. 3108.  (1) A promise or order is "payable on demand" if it:  (a) States that it is payable on demand or at sight, or otherwise indicates that it is payable at the will of the holder.  (b) Does not state any time of payment.  (2) A promise or order is "payable at a definite time" if it is payable on elapse of a definite period of time after sight or acceptance or at a fixed date or dates or at a time or times readily ascertainable at the time the promise or order is issued, subject to rights of:  (a) Prepayment.  (b) Acceleration.   (c) Extension at the option of the holder.  (d) Extension to a further definite time at the option of the maker or acceptor or automatically upon or after a specified act or event.   (3) If an instrument, payable at a fixed date, is also payable upon demand made before the fixed date, the instrument is payable on demand until the fixed date and, if demand for payment is not made before that date, becomes payable at a definite time on the fixed date. History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993
MI Comp L § 440.3109 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 3 - Negotiable Instruments (440.3101...440.3805)|174-1962-3-1 - Part 1 General Provisions and Definitions (440.3101...440.3122)|Section 440.3109 - Promise or Order; Payable on Demand; Payable at Definite Time; Instrument Payable at Fixed Date.

440.3109 Promise or order; payable on demand; payable at definite time; instrument payable at fixed date. Sec. 3109.  (1) A promise or order is payable to the bearer if it does any of the following:  (a) States that it is payable to bearer or to the order of bearer or otherwise indicates that the person in possession of the promise or order is entitled to payment.  (b) Does not state a payee.  (c) States that it is payable to or to the order of cash or otherwise indicates that it is not payable to an identified person.  (2) A promise or order that is not payable to bearer is payable to order if it is payable:  (a) To the order of an identified person.  (b) To an identified person or order. A promise or order that is payable to order is payable to the identified person.  (3) An instrument payable to bearer may become payable to an identified person if it is specially endorsed pursuant to section 3205(1). An instrument payable to an identified person may become payable to bearer if it is endorsed in blank pursuant to section 3205(2). History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993
MI Comp L § 440.3111 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 3 - Negotiable Instruments (440.3101...440.3805)|174-1962-3-1 - Part 1 General Provisions and Definitions (440.3101...440.3122)|Section 440.3111 - Place of Payment.

440.3111 Place of payment. Sec. 3111.  Except as otherwise provided for items in article 4, an instrument is payable at the place of payment stated in the instrument. If no place of payment is stated, an instrument is payable at the address of the drawee or maker stated in the instrument. If no address is stated, the place of payment is the place of business of the drawee or maker. If a drawee or maker has more than 1 place of business, the place of payment is any place of business of the drawee or maker chosen by the person entitled to enforce the instrument. If the drawee or maker has no place of business, the place of payment is the residence of the drawee or maker. History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993
MI Comp L § 440.3112 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 3 - Negotiable Instruments (440.3101...440.3805)|174-1962-3-1 - Part 1 General Provisions and Definitions (440.3101...440.3122)|Section 440.3112 - Interest.

440.3112 Interest. Sec. 3112.  (1) Unless otherwise provided in the instrument:  (a) An instrument is not payable with interest.  (b) Interest on an interest-bearing instrument is payable from the date of the instrument.  (2) Interest may be stated in an instrument as a fixed or variable amount of money or it may be expressed as a fixed or variable rate or rates. The amount or rate of interest may be stated or described in the instrument in any manner and may require reference to information not contained in the instrument. If an instrument provides for interest, but the amount of interest payable cannot be ascertained from the description, interest is payable at the judgment rate in effect at the place of payment of the instrument and at the time interest first accrues. History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1964, Act 250, Eff. Aug. 28, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993
MI Comp L § 440.3113 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 3 - Negotiable Instruments (440.3101...440.3805)|174-1962-3-1 - Part 1 General Provisions and Definitions (440.3101...440.3122)|Section 440.3113 - Instrument Antedated, Postdated, or Undated.

440.3113 Instrument antedated, postdated, or undated. Sec. 3113.  (1) An instrument may be antedated or postdated. The date stated determines the time of payment if the instrument is payable at a fixed period after date. Except as provided in section 4401(3), an instrument payable on demand is not payable before the date of the instrument.  (2) If an instrument is undated, its date is the date of its issue or, in the case of an unissued instrument, the date it first comes into possession of a holder. History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993
MI Comp L § 440.3114 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 3 - Negotiable Instruments (440.3101...440.3805)|174-1962-3-1 - Part 1 General Provisions and Definitions (440.3101...440.3122)|Section 440.3114 - Instrument; Contradictory Terms.

440.3114 Instrument; contradictory terms.  Sec. 3114.  If an instrument contains contradictory terms, typewritten terms prevail over printed terms, handwritten terms prevail over both, and words prevail over numbers. History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993
MI Comp L § 440.3115 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 3 - Negotiable Instruments (440.3101...440.3805)|174-1962-3-1 - Part 1 General Provisions and Definitions (440.3101...440.3122)|Section 440.3115 - Incomplete Instrument; Definition; Enforcement; Alteration; Burden.

440.3115 Incomplete instrument; definition; enforcement; alteration; burden. Sec. 3115.  (1) "Incomplete instrument" means a signed writing, whether or not issued by the signer, the contents of which show at the time of signing that it is incomplete but that the signer intended it to be completed by the addition of words or numbers.  (2) Subject to subsection (3), if an incomplete instrument is an instrument under section 3104, it may be enforced according to its terms if it is not completed, or according to its terms as augmented by completion. If an incomplete instrument is not an instrument under section 3104, but, after completion, the requirements of section 3104 are met, the instrument may be enforced according to its terms as augmented by completion.  (3) If words or numbers are added to an incomplete instrument without authority of the signer, there is an alteration of the incomplete instrument under section 3407.  (4) The burden of establishing that words or numbers were added to an incomplete instrument without authority of the signer is on the person asserting the lack of authority. History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993
MI Comp L § 440.3116 (2021)
2021 Michigan Compiled Laws|Chapter 440 - Uniform Commercial Code|Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)|Article 3 - Negotiable Instruments (440.3101...440.3805)|174-1962-3-1 - Part 1 General Provisions and Definitions (440.3101...440.3122)|Section 440.3116 - Joint and Several Liability.

440.3116 Joint and several liability.Sec. 3116.  (1) Except as otherwise provided in the instrument, 2 or more persons who have the same liability on an instrument as makers, drawers, acceptors, endorsers who endorse as joint payees, or anomalous endorsers are jointly and severally liable in the capacity in which they sign.  (2) Except as provided in section 3419(6) or by agreement of the affected parties, a party having joint and several liability who pay the instrument is entitled to receive from any party having the same joint and several liability contribution in accordance with applicable law. History: 1962, Act 174, Eff. Jan. 1, 1964 ;-- Am. 1993, Act 130, Eff. Sept. 30, 1993 ;-- Am. 2014, Act 101, Imd. Eff. Apr. 10, 2014 Compiler's Notes: In subsection (2), “pay” evidently should read “pays.”