Laws Archives - Page 3 of 3 - Detroit Business Law - Resources for Metro-Detroit Businesses

Understanding Michigan Usury Law

June 3, 2009 - by Melissa Demorest LeDuc, Attorney - 6 Comments.

The current economic downturn has led to increased public scrutiny of lending practices. Michigan usury laws offer important protection to borrowers by capping the interest rate that lenders can charge. …

Melissa L. Demorest

Beware of Evergreen Clauses

June 1, 2009 - by Melissa Demorest LeDuc, Attorney - 3 Comments.

“Evergreen contract – A contract that renews itself from one term to the next in the absence of contrary notice by one of the parties” – BLACK’S LAW DICTIONARY 321 …