Michigan § 440.2974 - Additional rights of lessor aggrieved under MCL 440.2973(1).

Full text of Michigan Michigan Compiled Laws § 440.2974 — Additional rights of lessor aggrieved under MCL 440.2973(1)., with citation guidance and answers to common questions.

§ 440.2974. Additional rights of lessor aggrieved under MCL 440.2973(1).

Sec. 2A524.(1)

A lessor aggrieved under section 2A523(1) may do any of the following:

(a)

Identify to the lease contract conforming goods not already identified if at the time the lessor learned of the default they were in the lessor's or the supplier's possession or control.

(b)

Dispose of goods (section 2A527(1)) that demonstrably have been intended for the particular lease contract even though those goods are unfinished.

(2)

If the goods are unfinished, in the exercise of reasonable commercial judgment for the purposes of avoiding loss and of effective realization, an aggrieved lessor or the supplier may either complete manufacture and wholly identify the goods to the lease contract or cease manufacture and lease, sell, or otherwise dispose of the goods for scrap or salvage value or proceed in any other reasonable manner.

Source: official Michigan text · Last verified 2026-08-27

Frequently Asked Questions About Michigan § 440.2974

What does Michigan Compiled Laws § 440.2974 cover?

Section 440.2974 ("Additional rights of lessor aggrieved under MCL 440.2973(1).") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.

How do I cite Michigan § 440.2974?

A common citation format is "Michigan Compiled Laws § 440.2974" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.

Is this the official text of Michigan law?

No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.

How does Michigan § 440.2974 apply to my situation?

Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.

Sources & Verification

Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.