Wisconsin § 402.505 Seller’s shipment under reservation.

Wisconsin Statutes

§ 402.505 — Seller’s shipment under reservation.

Wisconsin § 402.505

Ch. 402Uniform commercial code — sales

Subch.subch. V of ch. 402 SUBCHAPTER V

PERFORMANCE

This text of Wisconsin § 402.505 (Seller’s shipment under reservation.) is published on Counsel Stack Legal Research, covering Wisconsin primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Wis. Stat. § 402.505 (2026).

Text

505
505(1) (1) Where the seller has identified goods to the contract by or before shipment:
505(1)(a) (a) The seller’s procurement of a negotiable bill of lading to the seller’s own order or otherwise reserves in the seller a security interest in the goods. The seller’s procurement of the bill to the order of a financing agency or of the buyer indicates in addition only the seller’s expectation of transferring that interest to the person named.
505(1)(b) (b) A nonnegotiable bill of lading to the seller or the seller’s nominee reserves possession of the goods as security but except in a case of conditional delivery (s. 402.507 (2) ) a nonnegotiable bill of lading naming the buyer as consignee reserves no security interest even though the seller retains possession or control 

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402.505
402.505(1) (1) Where the seller has identified goods to the contract by or before shipment:
402.505(1)(a) (a) The seller’s procurement of a negotiable bill of lading to the seller’s own order or otherwise reserves in the seller a security interest in the goods. The seller’s procurement of the bill to the order of a financing agency or of the buyer indicates in addition only the seller’s expectation of transferring that interest to the person named.
402.505(1)(b) (b) A nonnegotiable bill of lading to the seller or the seller’s nominee reserves possession of the goods as security but except in a case of conditional delivery (s. 402.507 (2) ) a nonnegotiable bill of lading naming the buyer as consignee reserves no security interest even though the seller retains possession or control of the bill of lading.
402.505(2) (2) When shipment by the seller with reservation of a security interest is in violation of the contract for sale it constitutes an improper contract for transportation within s. 402.504 but impairs neither the rights given to the buyer by shipment and identification of the goods to the contract nor the seller’s powers as a holder of a negotiable document of title.