Chapter 407 — UNIFORM COMMERCIAL CODE — DOCUMENTS OF TITLE

407.101 Short title. This chapter may be cited as uniform commercial code — documents of title. History: 2009 a. 322.

407.102 Definitions and index of definitions. (1) In this chapter, unless the context otherwise requires: (a) “Bailee” means a person that by a warehouse receipt, bill of lading, or other document of title acknowledges possession of goods and contracts to deliver them. (b) “Carri…

407.103 Relation of chapter to treaty or statute. (1) This chapter is subject to any treaty or statute of the United States or a regulatory statute of this state to the extent the treaty, statute, or regulatory statute is applicable. (2) This chapter does not repeal or modify any…

407.104 Negotiable and nonnegotiable document of title. (1) Except as provided in sub. (3), a document of title is negotiable if by its terms the goods are to be delivered to bearer or to the order of a named person. (2) A document of title other than one described in sub. (1) is…

407.105 Reissuance in alternative medium. (1) Upon request of a person entitled under an electronic document of title, the issuer of the electronic document may issue a tangible document of title as a substitute for the electronic document if all of the following apply: (a) The p…

407.106 Control of electronic document of title. (1) A person has control of an electronic document of title if a system employed for evidencing the transfer of interests in the electronic document reliably establishes that person as the person to which the electronic document wa…

407.201 Person that may issue a warehouse receipt; storage under bond. (1) A warehouse receipt may be issued by any warehouse. (2) If goods, including distilled spirits and agricultural commodities, are stored under a statute requiring a bond against withdrawal or a license for t…

407.202 Form of warehouse receipt. (1) A warehouse receipt need not be in any particular form. (2) Unless a warehouse receipt provides for each of the following, the warehouse is liable for damages caused to a person injured by its omission: (a) The location of the warehouse faci…

407.203 Liability for nonreceipt or misdescription. A party to or purchaser for value in good faith of a document of title, other than a bill of lading, that relies upon the description of the goods in the document may recover from the issuer damages caused by the nonreceipt or m…

407.204 Duty of care; contractual limitation of warehouse’s liability. (1) A warehouse is liable for damages for loss of or injury to the goods caused by its failure to exercise care with regard to the goods that a reasonably careful person would exercise under similar circumstan…

407.205 Title under warehouse receipt defeated in certain cases. A buyer in ordinary course of business of fungible goods sold and delivered by a warehouse that is also in the business of buying and selling such goods takes the goods free of any claim under a warehouse receipt ev…

407.206 Termination of storage at warehouse’s option. (1) A warehouse, by giving notice to the person on whose

407.207 Goods must be kept separate; fungible goods. (1) Unless the warehouse receipt provides otherwise, a warehouse shall keep separate the goods covered by each receipt so as to permit at all times identification and delivery of those goods. However, different lots of fungible…

407.208 Altered warehouse receipts. If a blank in a negotiable tangible warehouse receipt has been filled in without authority, a good faith purchaser for value and without notice of the lack of authority may treat the insertion as authorized. Any other unauthorized alteration le…

407.209 Lien of warehouse. (1) A warehouse has a lien against the bailor on the goods covered by a warehouse receipt or storage agreement or on the proceeds thereof in its possession for charges for storage or transportation, including demurrage and terminal charges, insurance, l…

407.210 Enforcement of warehouse’s lien. (1) Except as otherwise provided in sub. (2), a warehouse’s lien may be enforced by public or private sale of the goods, in bulk or in packages, at any time or place and on any terms that are commercially reasonable, after notifying all pe…

407.301 Liability for nonreceipt or misdescription; “said to contain”; “shipper’s load and count”; improper handling. (1) A consignee of a nonnegotiable bill of lading which has given value in good faith, or a holder to which a negotiable bill has been duly negotiated, relying up…

407.302 Through bills of lading and similar documents of title. (1) The issuer of a through bill of lading or other document of title embodying an undertaking to be performed in part by a person acting as its agent or by a performing carrier is liable to any person entitled to re…

407.303 Diversion; reconsignment; change of instructions. (1) Unless the bill of lading otherwise provides, a UCC — DOCUMENTS OF TITLE 407.307 carrier may deliver the goods to a person or destination other than that stated in the bill or may otherwise dispose of the goods, withou…

407.304 Tangible bills of lading in a set. (1) Except as customary in international transportation, a tangible bill of lading may not be issued in a set of parts. The issuer is liable for damages caused by violation of this subsection. (2) If a tangible bill of lading is lawfully…

407.305 Destination bills. (1) Instead of issuing a bill of lading to the consignor at the place of shipment, a carrier, at the request of the consignor, may procure the bill to be issued at destination or at any other place designated in the request. (2) Upon request of any pers…

407.306 Altered bills of lading. An unauthorized alteration or filling in of a blank in a bill of lading leaves the bill enforceable according to its original tenor. History: 2009 a. 322. 407.307 Lien of carrier. (1) A carrier has a lien on the goods covered by a bill of lading o…

407.307 Lien of carrier.

407.308 Enforcement of carrier’s lien.

407.309 Duty of care; contractual limitation of carrier’s liability. SUBCHAPTER IV WAREHOUSE RECEIPTS AND BILLS OF LADING: GENERAL OBLIGATIONS

407.401 Irregularities in issue of receipt or bill or conduct of issuer.

407.402 Duplicate document of title; overissue.

407.403 Obligation of warehouse or carrier to deliver; excuse.

407.404 No liability for good faith delivery pursuant to document of title. SUBCHAPTER V WAREHOUSE RECEIPTS AND BILLS OF LADING: NEGOTIATION AND TRANSFER

407.501 Form of negotiation and requirements of due negotiation.

407.502 Rights acquired by due negotiation.

407.503 Document of title to goods defeated in certain cases.

407.504 Rights acquired in absence of due negotiation; effect of diversion; stoppage of delivery.

407.505 Endorser not guarantor for other parties.

407.506 Delivery without endorsement; right to compel endorsement.

407.507 Warranties on negotiation or delivery of document of title.

407.508 Warranties of collecting bank as to documents of title.

407.509 Adequate compliance with commercial contract. SUBCHAPTER VI WAREHOUSE RECEIPTS AND BILLS OF LADING: MISCELLANEOUS PROVISIONS

407.601 Lost, stolen, or destroyed documents of title.

407.602 Attachment of goods covered by negotiable document of title.

407.603 Conflicting claims; interpleader. were misdescribed, or in any other respect the agent or employee violated the issuer’s instructions. (i) “Person entitled under the document” means the holder, in the case of a negotiable document of title, or the person to which delivery…