403.206 Restrictive endorsement.
SUBCHAPTER III
ENFORCEMENT OF INSTRUMENTS
403.301 Person entitled to enforce instrument.
403.302 Holder in due course.
403.303 Value and consideration.
403.304 Overdue instrument.
403.305 Defenses and claims in recoupment.
403.306 Claims to an instrument.
403.307 Notice of breach of fiduciary duty.
403.308 Proof of signatures and status as holder in due course.
403.309 Enforcement of lost, destroyed or stolen instrument.
403.310 Effect of instrument on obligation for which taken.
403.311 Accord and satisfaction by use of instrument.
403.312 Lost, destroyed or stolen cashier's check, teller's check or certified check.
SUBCHAPTER IV
LIABILITY OF PARTIES
403.402 Signature by representative.
403.403 Unauthorized signature.
403.404 Impostors; fictitious payees.
403.405 Employer's responsibility for fraudulent endorsement by employee.
403.406 Negligence contributing to forged signature or alteration of instrument.
403.408 Drawee not liable on unaccepted draft.
403.409 Acceptance of draft; certified check.
403.410 Acceptance varying draft.
403.411 Refusal to pay cashier's checks, teller's checks and certified checks.
403.412 Obligation of issuer of note or cashier's check.
403.413 Obligation of acceptor.
403.414 Obligation of drawer.
403.415 Obligation of endorser.
403.416 Transfer warranties.
403.417 Presentment warranties.
403.418 Payment or acceptance by mistake.
403.419 Instruments signed for accommodation.
403.420 Conversion of instrument.
SUBCHAPTER V
DISHONOR
403.503 Notice of dishonor.
403.504 Excused presentment and notice of dishonor.
403.505 Evidence of dishonor.
SUBCHAPTER VI
DISCHARGE AND PAYMENT
403.601 Discharge and effect of discharge.
403.603 Tender of payment.
403.604 Discharge by cancellation or renunciation.
403.605 Discharge of endorsers and accommodation parties.
GENERAL PROVISIONS AND DEFINITIONS
403.102(1)(1) This chapter applies to negotiable instruments. It does not apply to money, to payment orders governed by
ch. 410 or to securities governed by
ch. 408.
403.102(3)
(3) Regulations of the board of governors of the federal reserve system and operating circulars of the federal reserve banks supersede any inconsistent provision of this chapter to the extent of the inconsistency.
403.102 History
History: 1995 a. 449.
403.103(1)(a)
(a) "Acceptor" means a drawee who has accepted a draft.
403.103(1)(b)
(b) "Drawee" means a person ordered in a draft to make payment.
403.103(1)(c)
(c) "Drawer" means a person who signs or is identified in a draft as a person ordering payment.
403.103(1)(d)
(d) "Good faith" means honesty in fact and the observance of reasonable commercial standards of fair dealing.
403.103(1)(e)
(e) "Maker" means a person who signs or is identified in a note as a person undertaking to pay.
403.103(1)(f)
(f) "Order" means a written instruction to pay money signed by the person giving the instruction. The instruction may be addressed to any person, including the person giving the instruction, or to one or more persons jointly or in the alternative but not in succession. An authorization to pay is not an order unless the person authorized to pay is also instructed to pay.
403.103(1)(g)
(g) "Ordinary care" in the case of a person engaged in business means observance of reasonable commercial standards, prevailing in the area in which the person is located, with respect to the business in which the person is engaged. In the case of a bank that takes an instrument for processing for collection or payment by automated means, reasonable commercial standards do not require the bank to examine the instrument if the failure to examine does not violate the bank's prescribed procedures and the bank's procedures do not vary unreasonably from general banking usage not disapproved by this chapter or
ch. 404.
403.103(1)(i)
(i) "Promise" means a written undertaking to pay money signed by the person undertaking to pay. An acknowledgment of an obligation by the obligor is not a promise unless the obligor also undertakes to pay the obligation.
403.103(1)(j)
(j) "Prove" with respect to a fact means to meet the burden of establishing a fact, as defined in
s. 401.201 (8).
403.103(1)(k)
(k) "Remitter" means a person who purchases an instrument from its issuer if the instrument is payable to an identified person other than the purchaser.
403.103(2)
(2) Other definitions applying to this chapter and the sections in which they appear are:
