Sec. 1205.
(1) Whether a time for taking an action required by this act is reasonable depends on the nature, purpose, and circumstances of the action.
(2) An action is taken seasonably if 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 ;-- Am. 2012, Act 86, Eff. July 1, 2013
Structure Michigan Compiled Laws
Chapter 440 - Uniform Commercial Code
Act 174 of 1962 - Uniform Commercial Code (440.1101 - 440.11102)
Article 1 - General Provisions (440.1101...440.1310)
174-1962-1-2 - Part 2 General Definitions and Principles of Interpretation (440.1201...440.1211)
Section 440.1201 - Definitions.
Section 440.1202 - Definitions.
Section 440.1204 - Value for Rights.
Section 440.1205 - Time for Taking Action.
Section 440.1206 - Presumption.
Section 440.1207 - Repealed. 2012, Act 86, Eff. July 1, 2013.
Section 440.1208 - Repealed. 2012, Act 86, Eff. July 1, 2013.
Section 440.1209 - Repealed. 2012, Act 86, Eff. July 1, 2013.
Section 440.1210 - Repealed. 2012, Act 86, Eff. July 1, 2013.
Section 440.1211 - Repealed. 2012, Act 86, Eff. July 1, 2013.