§ 409.601 Rights after default; judicial enforcement; consignor or buyer of accounts, chattel paper, payment intangibles, or promissory notes
§ 409.602 Waiver and variance of rights and duties
§ 409.603 Agreement on standards concerning rights and duties
§ 409.604 Procedure if security agreement covers real property or fixtures
§ 409.605 Unknown debtor or secondary obligor
§ 409.606 Time of default for agricultural lien
§ 409.607 Collection and enforcement by secured party
§ 409.608 Application of proceeds of collection or enforcement; liability for deficiency and right to surplus
§ 409.609 Secured party’s right to take possession after default
§ 409.610 Disposition of collateral after default
§ 409.611 Notification before disposition of collateral
§ 409.612 Timeliness of notification before disposition of collateral
§ 409.613 Contents and form of notification before disposition of collateral: general
§ 409.614 Contents and form of notification before disposition of collateral: consumer-goods transaction
§ 409.615 Application of proceeds of disposition; liability for deficiency and right to surplus
§ 409.616 Explanation of calculation of surplus or deficiency
§ 409.617 Rights of transferee of collateral
§ 409.618 Rights and duties of certain secondary obligors
§ 409.619 Transfer of record or legal title
§ 409.620 Acceptance of collateral in full or partial satisfaction of obligation; compulsory disposition of collateral
§ 409.621 Notification of proposal to accept collateral
§ 409.622 Effect of acceptance of collateral
§ 409.623 Right to redeem collateral
§ 409.624 Waiver
§ 409.625 Remedies for secured party’s failure to comply with chapter
§ 409.626 Action in which deficiency or surplus is in issue
§ 409.627 Determination of whether conduct was commercially reasonable
§ 409.628 Nonliability and limitation on liability of secured party; liability of secondary obligor
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Terms Used In Wisconsin Statutes > Chapter 409 > Subchapter VI - Default

  • Affidavit: A written statement of facts confirmed by the oath of the party making it, before a notary or officer having authority to administer oaths.
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • in writing: includes any representation of words, letters, symbols or figures. See Wisconsin Statutes 990.01
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Minor: means a person who has not attained the age of 18 years, except that for purposes of investigating or prosecuting a person who is alleged to have violated a state or federal criminal law or any civil law or municipal ordinance, "minor" does not include a person who has attained the age of 17 years. See Wisconsin Statutes 990.01
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
  • Personal property: All property that is not real property.
  • Personal property: includes money, goods, chattels, things in action, evidences of debt and energy. See Wisconsin Statutes 990.01
  • Property: includes real and personal property. See Wisconsin Statutes 990.01
  • Qualified: when applied to any person elected or appointed to office, means that such person has done those things which the person was by law required to do before entering upon the duties of the person's office. See Wisconsin Statutes 990.01
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • real property: includes lands, tenements and hereditaments and all rights thereto and interests therein. See Wisconsin Statutes 990.01
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • Statute: A law passed by a legislature.
  • Sworn: includes "affirmed" in all cases where by law an affirmation may be substituted for an oath. See Wisconsin Statutes 990.01