# Mich. Comp. Laws § 440.1103: Construction of act

> Michigan · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1103

## Section

- **Citation:** Mich. Comp. Laws § 440.1103
- **Heading:** Construction of act
- **Jurisdiction:** Michigan
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** MI Code / Chapter 440 / Act Act-174-of-1962 / Section 440.1103

## Text

Sec. 1103.

(1) This act must be liberally construed and applied to promote the following underlying purposes and policies:

(a) To simplify, clarify, and modernize the law governing commercial transactions.

(b) To permit the continued expansion of commercial practices through custom, usage, and agreement of the parties.

(c) To make uniform the law among the various jurisdictions.

(2) Unless displaced by the particular provisions of this act, the principles of law and equity, including the law merchant and the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, bankruptcy, or other validating or invalidating cause shall supplement its provisions.

History: 1962, Act 174, Eff. Jan. 1, 1964; Am. 2012, Act 86, Eff. July 1, 2013

## Nearby sections

- [Mich. Comp. Laws § 440.1102 Applicability of articles.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1102.md)
- [Mich. Comp. Laws § 440.1103 Construction of act.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1103.md)
- [Mich. Comp. Laws § 440.1104 Construction of act as to implied repeal by subsequent legislation.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1104.md)
- [Mich. Comp. Laws § 440.1108 Electronic signatures.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1108.md)
- [Mich. Comp. Laws § 440.1201 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1201.md)
- [Mich. Comp. Laws § 440.1202 Definitions.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1202.md)
- [Mich. Comp. Laws § 440.1203 Transaction in form of lease; "remaining economic life of the goods" and "reasonably predictable" fair market rent, fair market value, or cost of performing under lease agreement; determination.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1203.md)
- [Mich. Comp. Laws § 440.1204 Value for rights.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1204.md)
- [Mich. Comp. Laws § 440.1205 Time for taking action.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1205.md)
- [Mich. Comp. Laws § 440.1206 Presumption.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1206.md)
- [Mich. Comp. Laws § 440.1301 Applicability of law of this state or other state or nation; applicability of act to transactions bearing relation to state; provisions specifying applicable law.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1301.md)
- [Mich. Comp. Laws § 440.1306 Claim or right arising out of alleged breach; discharge.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1306.md)
- [Mich. Comp. Laws § 440.1307 Prima facie evidence of certain documents.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1307.md)
- [Mich. Comp. Laws § 440.1309 Accelerating payment or performance or requiring collateral or additional collateral.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1309.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MI_C440_AAct-174-of-1962_S440.1103. Check the current official text before relying on it. Not legal advice.