{"data":{"id":"us-mi/mich.-comp.-laws-440.2937","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 440.2937","heading":"Finance lease other than consumer lease; effect of lessee's promises; acceptance of goods by lessee; enforcement; validity.","body":"Sec. 2A407.\n\nIn the case of a finance lease that is not a consumer lease, the lessee's promises under the lease contract become irrevocable and independent upon the lessee's acceptance of the goods.\n\nA promise that has become irrevocable and independent under subsection (1) is ( i ) effective and enforceable between the parties, and by or against third parties including assignees of the parties, and ( ii ) not subject to cancellation, termination, modification, repudiation, excuse, or substitution without the consent of the party to whom the promise runs.\n\nThis section does not affect the validity under any other law of a covenant in any lease contract making the lessee's promises irrevocable and independent upon the lessee's acceptance of the goods.","path":["MI Code","Chapter 440","Act Act-174-of-1962"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-440-2937","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"3bc1f6a2d11034cc9c46f542b920d6371bc98522559c43508be6b3187cd27eaf","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-440.2936","next":"us-mi/mich.-comp.-laws-440.2951"},"notice":"GroundRules: Original legal text. Not legal advice."}