{"data":{"id":"us-mi/mich.-comp.-laws-440.2981","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 440.2981","heading":"Third party causing injury.","body":"Sec. 2A531.\n\nIf a third party so deals with goods that have been identified to a lease contract as to cause actionable injury to a party to the lease contract, ( i ) the lessor has a right of action against the third party, and ( ii ) the lessee also has a right of action against the third party if any of the following apply to the lessee:\n\nHas a security interest in the goods.\n\nHas an insurable interest in the goods.\n\nBears the risk of loss under the lease contract or has since the injury assumed that risk as against the lessor and the goods have been converted or destroyed.\n\nIf at the time of the injury the party plaintiff did not bear the risk of loss as against the other party to the lease contract and there is no arrangement between them for disposition of the recovery, his or her suit or settlement, subject to his or her own interest, is as a fiduciary for the other party to the lease contract.\n\nEither party with the consent of the other may sue for the benefit of whom it may concern.","path":["MI Code","Chapter 440","Act Act-174-of-1962"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-440-2981","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"fd8961a1582ee51524bf83fe834bb3491b43c8fb8e8b2adbe4322586b1bde7df","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-440.2980","next":"us-mi/mich.-comp.-laws-440.2982"},"notice":"GroundRules: Original legal text. Not legal advice."}