Chapter 407

407.102   Definitions and index of definitions.

407.103   Relation of chapter to treaty or statute.

407.104   Negotiable and nonnegotiable document of title.

407.105   Reissuance in alternative medium.

407.106   Control of electronic document of title.

SUBCHAPTER II

WAREHOUSE RECEIPTS: SPECIAL PROVISIONS

407.201   Person that may issue a warehouse receipt; storage under bond.

407.202   Form of warehouse receipt.

407.203   Liability for nonreceipt or misdescription.

407.204   Duty of care; contractual limitation of warehouse’s liability.

407.205   Title under warehouse receipt defeated in certain cases.

407.206   Termination of storage at warehouse’s option.

407.207   Goods must be kept separate; fungible goods.

407.208   Altered warehouse receipts.

407.209   Lien of warehouse.

407.210   Enforcement of warehouse’s lien.

SUBCHAPTER III

BILLS OF LADING: SPECIAL PROVISIONS

407.301   Liability for nonreceipt or misdescription; “said to contain”; “shipper’s load and count”; improper handling.

407.302   Through bills of lading and similar documents of title.

407.303   Diversion; reconsignment; change of instructions.

407.304   Tangible bills of lading in a set.

407.305   Destination bills.

407.306   Altered bills of lading.

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.

Ch. 407 Cross-reference Cross-reference: See definitions in s. 401.201.

subch. I of ch. 407 SUBCHAPTER I

GENERAL

407.101 407.101 Short title. This chapter may be cited as uniform commercial code — documents of title.

407.101 History History: 2009 a. 322.

407.102 407.102 Definitions and index of definitions.

407.102(1) (1) In this chapter, unless the context otherwise requires:

407.102(1)(a) (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.

407.102(1)(b) (b) “Carrier” means a person that issues a bill of lading.

407.102(1)(c) (c) “Consignee” means a person named in a bill of lading to which or to whose order the bill promises delivery.

407.102(1)(d) (d) “Consignor” means a person named in a bill of lading as the person from which the goods have been received for shipment.

407.102(1)(e) (e) “Delivery order” means a record that contains an order to deliver goods directed to a warehouse, carrier, or other person that in the ordinary course of business issues warehouse receipts or bills of lading.

407.102(1)(f) (f) “Good faith” means honesty in fact and the observance of reasonable commercial standards of fair dealing.

407.102(1)(g) (g) “Goods” means all things that are treated as movable for the purposes of a contract for storage or transportation.

407.102(1)(h) (h) “Issuer” means a bailee that issues a document of title or, in the case of an unaccepted delivery order, the person that orders the possessor of goods to deliver. The term includes a person for which an agent or employee purports to act in issuing a document if the agent or employee has real or apparent authority to issue documents, even if the issuer did not receive any goods, the goods were misdescribed, or in any other respect the agent or employee violated the issuer’s instructions.

407.102(1)(i) (i) “Person entitled under the document” means the holder, in the case of a negotiable document of title, or the person to which delivery of the goods is to be made by the terms of, or pursuant to instructions in a record under, a nonnegotiable document of title.

407.102(1)(j) (j) “Record” means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form.

407.102(1)(k) (k) “Shipper” means a person that enters into a contract of transportation with a carrier.

407.102(1)(L) (L) “Sign” means, with present intent to authenticate or adopt a record, any of the following:

407.102(1)(L)1. 1. To execute or adopt a tangible symbol.

407.102(1)(L)2. 2. To attach to or logically associate with the record an electronic sound, symbol, or process.

407.102(1)(m) (m) “Warehouse” means a person engaged in the business of storing goods for hire.

407.102(2) (2) Definitions in other chapters applying to this chapter and the sections in which they appear are:

407.102(2)(a) (a) “Contract for sale,” s. 402.106.

407.102(2)(b) (b) “Lessee in ordinary course of business,” s. 411.103.

407.102(2)(c) (c) “Receipt” of goods, s. 402.103.

407.102(3) (3) In addition, ch. 401 contains general definitions and principles of construction and interpretation applicable throughout this chapter.

407.102 History History: 2009 a. 322.

407.103 407.103 Relation of chapter to treaty or statute.

407.103(1) (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.

407.103(2) (2) This chapter does not repeal or modify any law prescribing the form or contents of a document of title or the services or facilities to be afforded by a bailee, or otherwise regulating a bailee’s businesses in respects not specifically treated in this chapter. However, violation of such a law does not affect the status of a document of title that otherwise complies with the definition of a document of title.

407.103(3) (3) This chapter modifies, limits, and supersedes the federal Electronic Signatures in Global and National Commerce Act, 15 USC 7001 to 7031, but does not modify, limit, or supersede section 101 (c) of that act, 15 USC 7001 (c), or authorize electronic delivery of any of the notices described in section 103 (b) of that act, 15 USC 7003 (b).

407.103(4) (4) To the extent there is a conflict between ch. 137 and this chapter, this chapter governs.

407.103 History History: 2009 a. 322; 2019 a. 125.

407.104 407.104 Negotiable and nonnegotiable document of title.

407.104(1) (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.

407.104(2) (2) A document of title other than one described in sub. (1) is nonnegotiable. A bill of lading that states that the goods are consigned to a named person is not made negotiable by a provision that the goods are to be delivered only against an order in a record signed by the same or another named person.

407.104(3) (3) A document of title is nonnegotiable if, at the time it is issued, the document has a conspicuous legend, however expressed, that it is nonnegotiable.