Wisconsin Statutes 407.401 – Irregularities in issue of receipt or bill or conduct of issuer
Current as of: 2024 | Check for updates
|
Other versions
The obligations imposed by this chapter on an issuer apply to a document of title even if any of the following are satisfied:
Terms Used In Wisconsin Statutes 407.401
- 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. See Wisconsin Statutes 407.102
- 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
- Goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Wisconsin Statutes 407.102
- 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. See Wisconsin Statutes 407.102
- Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
- Statute: A law passed by a legislature.
- Warehouse: means a person engaged in the business of storing goods for hire. See Wisconsin Statutes 407.102
(1) The document does not comply with the requirements of this chapter or of any other statute, rule, or regulation regarding its issue, form, or content.
(2) The issuer violated laws regulating the conduct of its business.
(3) The goods covered by the document were owned by the bailee when the document was issued.
(4) The person issuing the document is not a warehouse but the document purports to be a warehouse receipt.