750.276 Promise to vendee of grain to sell at fictitious price; signature to note.
208 words·~1 min read·
/mi/chapter-750/750-276A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
750.276 Promise to vendee of grain to sell at fictitious price; signature to note.
Sec. 276.
Procuring signature to note, etc., as consideration for promise to vendee of grain to sell same at fictitious price—Any person who, either for his own benefit, or as the agent of any corporation, company, association or person, procures the signature of any person or maker, indorser, guarantor or surety thereon, to any bond, bill, receipt, promissory note, draft, check or any other evidence of indebtedness as the whole or part consideration for any bond, contract, agreement or promise given to the vendee of any grain, seed or other cereals, binding the vendor or any other person, corporation, company or association, or the agent thereof, to sell for such vendee any grain, seed, or cereals at a fictitious price, or at a price equal to or more than twice the market price of such grain, seed or cereals, shall be guilty of a felony.
History: 1931, Act 328, Eff. Sept. 18, 1931 ;-- CL 1948, 750.276
Former Law: See sections 1 and 3 of Act 20 of 1887, being How., §§ 9354c and 9354e; CL 1897, §§ 11370 and 11372; CL 1915, §§ 15088 and 15090; and CL 1929, §§ 16631 and 16633.