Wisconsin § 402.702 Seller’s remedies on discovery of buyer’s insolvency.

Wisconsin Statutes

§ 402.702 — Seller’s remedies on discovery of buyer’s insolvency.

Wisconsin § 402.702

Ch. 402Uniform commercial code — sales

Subch.subch. VII of ch. 402 SUBCHAPTER VII

REMEDIES

This text of Wisconsin § 402.702 (Seller’s remedies on discovery of buyer’s insolvency.) 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. § 402.702 (2026).

Text

702
702(1) (1) Where the seller discovers the buyer to be insolvent the seller may refuse delivery except for cash including payment for all goods theretofore delivered under the contract, and stop delivery under s. 402.705 .
702(2) (2) Where the seller discovers that the buyer has received goods on credit while insolvent the seller may reclaim the goods upon demand made within 10 days after the receipt, but if misrepresentation of solvency has been made to the particular seller in writing within 3 months before delivery the 10-day limitation does not apply. Except as provided in this subsection the seller may not base a right to reclaim goods on the buyer’s fraudulent or innocent misrepresentation of solvency or of intent to pay.
702(3) (3) The seller’s right to reclaim un

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402.702
402.702(1) (1) Where the seller discovers the buyer to be insolvent the seller may refuse delivery except for cash including payment for all goods theretofore delivered under the contract, and stop delivery under s. 402.705 .
402.702(2) (2) Where the seller discovers that the buyer has received goods on credit while insolvent the seller may reclaim the goods upon demand made within 10 days after the receipt, but if misrepresentation of solvency has been made to the particular seller in writing within 3 months before delivery the 10-day limitation does not apply. Except as provided in this subsection the seller may not base a right to reclaim goods on the buyer’s fraudulent or innocent misrepresentation of solvency or of intent to pay.
402.702(3) (3) The seller’s right to reclaim under sub. (2) is subject to the rights of a buyer in ordinary course or other good faith purchaser under s. 402.403 . Successful reclamation of goods excludes all other remedies with respect to them.