Chapter 411

411.206   Offer and acceptance in formation of lease contract.

411.207   Course of performance or practical construction.

411.208   Modification, rescission and waiver.

411.209   Lessee under finance lease as beneficiary of supply contract.

411.210   Express warranties.

411.211   Warranties against interference and against infringement; lessee’s obligation against infringement.

411.212   Implied warranty of merchantability.

411.213   Implied warranty of fitness for particular purpose.

411.214   Exclusion or modification of warranties.

411.215   Cumulation and conflict of warranties express or implied.

411.216   Third-party beneficiaries of express and implied warranties.

411.217   Identification.

411.218   Insurance and proceeds.

411.219   Risk of loss.

411.220   Effect of default on risk of loss.

411.221   Casualty to identified goods.

SUBCHAPTER III

EFFECT OF LEASE CONTRACT

411.301   Enforceability of lease contract.

411.302   Title to and possession of goods.

411.303   Alienability of party’s interest under lease contract or of lessor’s residual interest in goods; delegation of performance; transfer of rights.

411.304   Subsequent lease of goods by lessor.

411.305   Sale or sublease of goods by lessee.

411.306   Priority of certain liens arising by operation of law.

411.307   Priority of liens arising by attachment or levy on, security interests in, and other claims to goods.

411.308   Special rights of creditors.

411.309   Lessor’s and lessee’s rights when goods become fixtures.

411.310   Lessor’s and lessee’s rights when goods become accessions.

411.311   Priority subject to subordination.

SUBCHAPTER IV

PERFORMANCE OF LEASE CONTRACT:
REPUDIATED, SUBSTITUTED AND EXCUSED

411.401   Insecurity: adequate assurance of performance.

411.402   Anticipatory repudiation.

411.403   Retraction of anticipatory repudiation.

411.404   Substituted performance.

411.405   Excused performance.

411.406   Procedure on excused performance.

411.407   Irrevocable promises: finance leases.

SUBCHAPTER V

DEFAULT

411.501   Default: Procedure.

411.502   Notice after default.

411.503   Modification or impairment of rights and remedies.

411.504   Liquidation of damages.

411.505   Cancellation and termination and effect of cancellation, termination, rescission or fraud on rights and remedies.

411.506   Statute of limitations.

411.507   Proof of market rent: time and place.

411.508   Lessee’s remedies.

411.509   Lessee’s rights on improper delivery; rightful rejection.

411.510   Installment lease contracts: rejection and default.

411.511   Merchant lessee’s duties as to rightfully rejected goods.

411.512   Lessee’s duties as to rightfully rejected goods.

411.513   Cure by lessor of improper tender or delivery; replacement.

411.514   Waiver of lessee’s objections.

411.515   Acceptance of goods.

411.516   Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable over.

411.517   Revocation of acceptance of goods.

411.518   Cover; substitute goods.

411.519   Lessee’s damages for nondelivery, repudiation, default and breach of warranty in regard to accepted goods.

411.520   Lessee’s incidental and consequential damages.

411.521   Lessee’s right to specific performance or replevin.

411.522   Lessee’s right to goods on lessor’s insolvency.

411.523   Lessor’s remedies.

411.524   Lessor’s right to identify goods to lease contract.

411.525   Lessor’s right to possession of goods.

411.526   Lessor’s stoppage of delivery in transit or otherwise.

411.527   Lessor’s rights to dispose of goods.

411.528   Lessor’s damages for nonacceptance, failure to pay, repudiation or other default.

411.529   Lessor’s action for the rent.

411.530   Lessor’s incidental damages.

411.531   Standing to sue 3rd parties for injury to goods.

411.532   Lessor’s rights to residual interest.

SUBCHAPTER VI

TRANSITIONAL PROVISIONS

411.901   Applicability; written agreement to modify.

Ch. 411 Cross-reference Cross-reference: See definitions in s. 401.201.

subch. I of ch. 411 SUBCHAPTER I

GENERAL PROVISIONS

411.101 411.101 Short title. This chapter may be cited as the uniform commercial code — leases.

411.101 History History: 1991 a. 148.

411.102 411.102 Scope. This chapter applies to any transaction, regardless of form, that creates a lease.

411.102 History History: 1991 a. 148.

411.102 Annotation UCC Now Governs Personal Property Leases. Storm. Wis. Law. Oct. 1992.

411.103 411.103 Definitions and index of definitions.

411.103(1) (1) In this chapter, unless the context requires otherwise:

411.103(1)(a) (a) “Buyer in ordinary course of business” means a person who, in good faith and without knowledge that the sale to him or her is in violation of the ownership rights or security interest or leasehold interest of a 3rd party in the goods, buys in ordinary course from a person in the business of selling goods of that kind but does not include a pawnbroker. “Buying” may be for cash or by exchange of other property or on secured or unsecured credit and includes acquiring goods or documents of title under a preexisting contract for sale but does not include a transfer in bulk or as security for or in total or partial satisfaction of a money debt.

411.103(1)(b) (b) “Cancellation” occurs when either party puts an end to the lease contract for default by the other party.

411.103(1)(c) (c) “Commercial unit” means such a unit of goods as by commercial usage is a single whole for purposes of lease and division of which materially impairs its character or value on the market or in use. A commercial unit may be a single article, such as a machine, or a set of articles, such as a suite of furniture or a line of machinery, or a quantity, such as a gross or carload, or any other unit treated in use or in the relevant market as a single whole.