Demand For Bonds And Interest Rate In Michigan
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A Bond is a document with which one party promises to pay another within a specified amount of time. The term "demand" means that the principal plus any interest is due on demand by the bondholder rather than on a specific date. Bonds are used for many things, including borrowing money or guaranteeing payment of money. A bond can be given to secure performance of particular obligations, including the payment of money, or for purposes of indemnification. The validity of a "private" bond, payable upon demand, is determined by the same principles applicable to contracts generally. The purpose of the bond must not be contrary to public policy; it must be supported by a valuable consideration; and there must be a clear designation of the obligor and the obligee. A bond procured through fraud or duress may be unenforceable, but mistake on the part of the obligor as to the contents of a bond, or its legal effect, is not a defense to enforcement of the bond.
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The People of the State of Michigan enact: 438.151 Interest rate; obligations payable out of state. Sec. 1. When the Federal Reserve buys bonds, bond prices go up, which in turn reduces interest rates.Michigan State Housing Development Authority. Below Market Rate Bond Program. This session provides an explanation of some voted bonds financial strategies and how they operate. Capital appreciation: Bond prices can rise for several reasons, including a drop in interest rates and an improvement in the credit standing of the issuer.
