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Terms Used In Wisconsin Statutes 423.205

  • 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.
  • Property: includes real and personal property. See Wisconsin Statutes 990.01
   (1)    The customer has the duty to take reasonable care of the delivered property in the customer’s possession from the time of delivery until the expiration of a reasonable time after tender, not to exceed 20 days.
   (2)   Upon the performance of the merchant’s obligations under s. 423.204, the customer shall tender the property to the merchant.
   (3)   Tender shall be made at the location of the property or at the residence of the customer at the option of the customer.
   (4)   If the merchant does not take possession of the property within 20 days after tender by the customer, ownership of the property vests in the customer without obligation on the customer’s part to pay for it.
   (5)   If the merchant has performed any services pursuant to a consumer approval transaction prior to its cancellation, the merchant is entitled to no compensation.