440.2854 Lease contract; sufficiency to show agreement; conduct; open terms.
107 words·~1 min read·
/mi/chapter-440/440-2854A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
440.2854 Lease contract; sufficiency to show agreement; conduct; open terms.
Sec. 2A204.
(1)A lease contract may be made in any manner sufficient to show agreement, including conduct by both parties which recognizes the existence of a lease contract.
(2)An agreement sufficient to constitute a lease contract may be found although the moment of its making is undetermined.
(3)Although 1 or more terms are left open, a lease contract does not fail for indefiniteness if the parties have intended to make a lease contract and there is a reasonably certain basis for giving an appropriate remedy.
History: Add. 1992, Act 101, Eff. Sept. 30, 1992