Mich. Comp. Laws § 440.3407: Alteration; definition; discharge of party affected; enforcement of rights.

Sec. 3407.

"Alteration" means ( i ) an unauthorized change in an instrument that purports to modify in any respect the obligation of a party, or ( ii ) an unauthorized addition of words or numbers or other change to an incomplete instrument relating to the obligation of a party.

Except as provided in subsection (3), an alteration fraudulently made discharges a party whose obligation is affected by the alteration unless that party assents or is precluded from asserting the alteration. No other alteration discharges a party, and the instrument may be enforced according to its original terms.

A payor bank or drawee paying a fraudulently altered instrument or a person taking it for value, in good faith and without notice of the alteration, may enforce rights with respect to the instrument ( i ) according to its original terms, or ( ii ) in the case of an incomplete instrument altered by unauthorized completion, according to its terms as completed.