Section 440.1204 - Time; reasonable time; seasonably, definition. - Michigan Statutes

UNIFORM COMMERCIAL CODE (EXCERPT)
Act 174 of 1962

440.1204 Time; reasonable time; seasonably, definition.

Sec. 1204.

(1) Whenever this act requires any action to be taken within a reasonable time, any time which is not manifestly unreasonable may be fixed by agreement.

(2) What is a reasonable time for taking any action depends on the nature, purpose and circumstances of such action.

(3) An action is taken “seasonably” when it is taken at or within the time agreed or if no time is agreed at or within a reasonable time.

History: 1962, Act 174, Eff. Jan. 1, 1964