125.2333 Statute of limitations; rejection of valid rescission as bar to action.
110 words·~1 min read·
/mi/chapter-125/125-2333A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
125.2333 Statute of limitations; rejection of valid rescission as bar to action.
Sec. 33.
A person may not bring an action under this act more than 3 years after the contract of sale, except that a person suing because of a violation of section 27 may not bring an action more than 6 years after the date of sale. A person may not bring an action if he or she previously rejected a valid rescission offer made at least 30 days after the transaction, except that a person suing under section 24 shall bring an action for rescission within 1 year.
History: 1987, Act 96, Imd. Eff. July 6, 1987