June 13, 2017, Introduced by Reps. Kesto, McCready, Lucido and Iden and referred to the Committee on Law and Justice.
A bill to amend 1981 PA 216, entitled
"An act to provide for the rights and liabilities of married women
with respect to certain real and personal property; to abrogate the
common law disabilities of married women with respect to certain
contracts; to prescribe the payment and satisfaction of judgments
rendered upon certain written contracts; and to repeal certain acts
and parts of acts,"
by amending section 8 (MCL 557.28).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 8. (1) A contract relating to property made between
persons in contemplation of marriage shall remain in full force
after marriage takes place.
(2) A contract described in subsection (1) is unenforceable if
a party against whom enforcement is sought proves either of the
following:
(a) The parties' consent to the contract was the result of
fraud, duress, or mistake.
(b) Before signing the contract, the party did not receive
adequate financial disclosure. A party has adequate financial
disclosure under this subdivision if 1 of the following applies:
(i) The party receives a reasonably accurate description and
good-faith estimate of value of the property, liabilities, and
income of the other party.
(ii) The party expressly waives the right to financial
disclosure beyond the disclosure provided.
(iii) The party has adequate knowledge or a reasonable basis
for having adequate knowledge of the information described in
subparagraph (i).
(3) A court may refuse to enforce a term of the contract or
the entire contract if, in the context of the contract taken as a
whole, either of the following applies:
(a) The term was unconscionable at the time the contract was
signed.
(b) Enforcement of the term may be unconscionable for a party
at the time of enforcement because of a material change in
circumstances arising after the contract was signed that was not
reasonably foreseeable at the time the contract was signed.
(4) The court shall decide the question of unconscionability
under subsection (3) as a matter of law.
(5) This section applies to contracts relating to property
made between persons in contemplation of marriage made before the
2017 amendatory act that amended this section.
Enacting section 1. This amendatory act takes effect 90 days
after the date it is enacted into law.