Section 445.141 - Vendor's rescission of sale of goods; refund; goods, possession.
REFUND OF DOWN PAYMENT ON VENDOR'S RESCISSION OF SALE (EXCERPT)
Act 119 of 1964
445.141 Vendor's rescission of sale of goods; refund; goods, possession.
Sec. 1.
When any person, partnership, association or corporation sells goods, wares and merchandise to any person on credit and receives partial payment of the purchase price thereof, and rescinds the sale after investigation of the credit standing of the purchaser, the vendor shall refund in full to the purchaser the entire portion of the purchase price paid. The refund shall be in money or in the goods received as partial payment of the goods purchased on credit. The vendor shall not make refund in any other manner. The provisions of this act shall apply when the vendor has possession of the goods while the credit investigation is being made.
History: 1964, Act 119, Eff. Aug. 28, 1964