Before starting any business, big or small, the first questions that come to mind are – “What do I need to do, and what comes first?”
There is a standard logical sequence of processes and actions to follow, all of which come under the governance of Michigan business laws.
Michigan business laws and employee rights
Business laws regulate at both the state and federal levels.
Federal laws deal with the basis of employee rights, environmental protection, taxes, securities, and other issues.
Meanwhile, state laws address many of these matters and more.
Michigan business laws prohibit employment discrimination by sexual orientation or gender identity; these not prohibit under federal labor laws.
Michigan business laws prohibit employment discrimination based on sexual orientation or gender identity; federal labor laws do not prohibit these.
1. Michigan Antitrust laws
Antitrust laws limit large corporate mergers and other maneuvers that restrict consumer choice.
A “trust” is a large company with little to no competition, such as a monopoly.
Michigan’s antitrust laws form part of the state’s Antitrust Reform Act. This act allows for private lawsuits.
It enforces a four-year statute of limitations in which to file a claim.
2. Michigan Civil Statute of Limitations laws
State laws dictate to what extent a potentially offended party needs to record a typical application, called the “statute of limitations.”
These time limits frequently differ depending on the case type, with criticism and defamation usually the most limited.
The motivation behind setting limits on documenting legitimate cases is to ensure would-be offended parties don’t use the risk of a claim as use inconclusively while guaranteeing the honesty of proof and declaration.
As a result, prosecutors must adhere to comparative points of confinement for the recording of criminal allegations. Certain genuine violations, such as murder, don’t have any cut-off points for charges.
Michigan’s civil statute of limitations allows two years for personal injuries; up to six years for fraud, trespassing, rent collection, contracts, debt collection; and ten years for judgments.
Libel and slander (defamation) claims are the only civil action with a one-year limit.
3. Michigan Interest Rates Laws
Regularly, consumers waive the limit of how much interest a consumer may charge when agreeing on credit card cards or other loans. However, most states set limits on this.
As a result, state interest rate laws usually have no bearing on the actual rates paid by borrowers.
Therefore, Michigan interest rates laws have a 5% limit on interest rates and 7% on written agreements.
4. Michigan Deceptive Trade Practices Laws
Michigan state laws preclude certain deceptive trading activities, such as messing with a used car’s odometer or utilizing false publicizing.
The Michigan Consumer Protection Act forbids false promotion, car odometer alteration, and other types of deceptive trade practices.
Michigan Deceptive Trade Practices laws permit the attorney general, an indicting lawyer, or a private resident to file a suit.
State laws are continually changing, so please contact a Michigan consumer protection attorney or direct your legitimate research to confirm the state law(s) you need to investigate further.