Compiled Laws, Chapter 750. Michigan Penal Code § 750.277

Sec. 277.SALE AND TRANSFER OF NOTE, ETC., SIGNATURE TO WHICH WAS PROCURED AS CONSIDERATION FOR PROMISE TO VENDEE OF GRAIN TO SELL AT FICTITIOUS PRICE--Any person who shall sell, barter or dispose of, either for his own benefit or as the agent of any corporation, company, association or person, any bond, bill, receipt, promissory note, draft, check or other evidence of indebtedness, knowing the same to have been obtained as the whole or part consideration for any bond, contract, agreement, or promise given to the vendee of any grain, seed or cereals, binding the vendor or any other person, corporation, company or association, or agent thereof, to sell for such vendee any grain, seed or cereals, at a fictitious price, or at a price equal to or more than twice the market price of such grain, seed, or cereals, shall be guilty of a felony.