Michigan Commercial Law Lawyers

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What is Redemption?
Redemption is a legal term that describes a debtor’s action of reclaiming collateral that a creditor took legal possession of pursuant to the terms of a secured loan. Typically, a … more
What is the Retail Installment Sales Financing Act?
A Retail Installment Sales Financing Act is a state law that governs retail installment contracts. A retail installment contract is one where the lender maintains title to the property, such … more

How Can a Creditor Repossess Property?
Many Americans experience a time when their financial obligations become overwhelming and they are unable to pay all of their outstanding obligations on time. A debtor who defaults on a secured loan may face the threat of property repossession. A creditor can repossess property only if the creditor has a valid security interest in that property and if the creditor follows the proper … more
What are Negotiable Instruments?
Have you ever wondered what law applies when you write a check or purchase a certificate of deposit (CD)? Checks and certificates of deposit are types of negotiable instruments. Articles 3 and 4 of the Uniform Commercial Code (UCC) have been enacted into law by every state and provide the rules for negotiable instruments. Negotiable Instruments Defined Negotiable instruments are … more