Cumulation and conflict of warranties express or implied.
Third-party beneficiaries of express and implied warranties.
Insurance and proceeds.
Effect of default on risk of loss.
Casualty to identified goods.
EFFECT OF LEASE CONTRACT
Enforceability of lease contract.
Title to and possession of goods.
Alienability of party's interest under lease contract or of lessor's residual interest in goods; delegation of performance; transfer of rights.
Subsequent lease of goods by lessor.
Sale or sublease of goods by lessee.
Priority of certain liens arising by operation of law.
Priority of liens arising by attachment or levy on, security interests in, and other claims to goods.
Special rights of creditors.
Lessor's and lessee's rights when goods become fixtures.
Lessor's and lessee's rights when goods become accessions.
Priority subject to subordination.
PERFORMANCE OF LEASE CONTRACT:
REPUDIATED, SUBSTITUTED AND EXCUSED
Insecurity: adequate assurance of performance.
Retraction of anticipatory repudiation.
Procedure on excused performance.
Irrevocable promises: finance leases.
Notice after default.
Modification or impairment of rights and remedies.
Liquidation of damages.
Cancellation and termination and effect of cancellation, termination, rescission or fraud on rights and remedies.
Statute of limitations.
Proof of market rent: time and place.
Lessee's rights on improper delivery; rightful rejection.
Installment lease contracts: rejection and default.
Merchant lessee's duties as to rightfully rejected goods.
Lessee's duties as to rightfully rejected goods.
Cure by lessor of improper tender or delivery; replacement.
Waiver of lessee's objections.
Acceptance of goods.
Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable over.
Revocation of acceptance of goods.
Cover; substitute goods.
Lessee's damages for nondelivery, repudiation, default and breach of warranty in regard to accepted goods.
Lessee's incidental and consequential damages.
Lessee's right to specific performance or replevin.
Lessee's right to goods on lessor's insolvency.
Lessor's right to identify goods to lease contract.
Lessor's right to possession of goods.
Lessor's stoppage of delivery in transit or otherwise.
Lessor's rights to dispose of goods.
Lessor's damages for nonacceptance, failure to pay, repudiation or other default.
Lessor's action for the rent.
Lessor's incidental damages.
Standing to sue 3rd parties for injury to goods.
Lessor's rights to residual interest.
Applicability; written agreement to modify.
Ch. 411 Cross-reference
See definitions in s. 401.201
This chapter may be cited as the uniform commercial code — leases.
History: 1991 a. 148
This chapter applies to any transaction, regardless of form, that creates a lease.
History: 1991 a. 148
UCC Now Governs Personal Property Leases. Storm. Wis. Law. Oct. 1992.
Definitions and index of definitions. 411.103(1)(1)
In this chapter, unless the context requires otherwise:
“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.
“Cancellation" occurs when either party puts an end to the lease contract for default by the other party.
“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.
“Conforming goods" or “performance under a lease contract" means goods or performance that is in accordance with the obligations under the lease contract.
“Consumer lease" means a lease that a lessor regularly engaged in the business of leasing or selling makes to a lessee who is an individual and who takes under the lease primarily for a personal, family, or household purpose, if the total payments to be made under the lease contract, excluding payments for options to renew or buy, do not exceed $25,000.
“Fault" means wrongful act, omission, breach or default.
“Finance lease" means a lease with respect to which all of the following occur:
The lessor does not select, manufacture or supply the goods.
The lessor acquires the goods or the right to possession and use of the goods in connection with the lease.
The lessee receives a copy of the contract by which the lessor acquired the goods or the right to possession and use of the goods before signing the lease contract.
The lessee's approval of the contract by which the lessor acquired the goods or the right to possession and use of the goods is a condition to effectiveness of the lease contract.