Michigan § 440.2955 - Cancellation or termination of lease contract; discharge of executory obligations; material misrepresentation or fraud; rescission, rejection, or return of goods as bar to rights or remedies.
Full text of Michigan Michigan Compiled Laws § 440.2955 — Cancellation or termination of lease contract; discharge of executory obligations; material misrepresentation or fraud; rescission, rejection, or return of goods as bar to rights or remedies., with citation guidance and answers to common questions.
§ 440.2955. Cancellation or termination of lease contract; discharge of executory obligations; material misrepresentation or fraud; rescission, rejection, or return of goods as bar to rights or remedies.
On cancellation of the lease contract, all obligations that are still executory on both sides are discharged, but any right based on prior default or performance survives, and the cancelling party also retains any remedy for default of the whole lease contract or any unperformed balance.
On termination of the lease contract, all obligations that are still executory on both sides are discharged but any right based on prior default or performance survives.
Unless the contrary intention clearly appears, expressions of "cancellation,""rescission," or the like of the lease contract may not be construed as a renunciation or discharge of any claim in damages for an antecedent default.
Rights and remedies for material misrepresentation or fraud include all rights and remedies available under this article for default.
Neither rescission nor a claim for rescission of the lease contract nor rejection or return of the goods may bar or be deemed inconsistent with a claim for damages or other right or remedy.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 440.2955
What does Michigan Compiled Laws § 440.2955 cover?
Section 440.2955 ("Cancellation or termination of lease contract; discharge of executory obligations; material misrepresentation or fraud; rescission, rejection, or return of goods as bar to rights or remedies.") 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 § 440.2955?
A common citation format is "Michigan Compiled Laws § 440.2955" (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 § 440.2955 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.