Wisconsin § 403.602 Payment.

Wisconsin Statutes

§ 403.602 — Payment.

Wisconsin § 403.602

Ch. 403Uniform commercial code — negotiable instruments

Subch.subch. VI of ch. 403 SUBCHAPTER VI

DISCHARGE AND PAYMENT

This text of Wisconsin § 403.602 (Payment.) 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. § 403.602 (2026).

Text

403.602 403.602(1) (1) Subject to sub.

(2), an instrument is paid to the extent that payment is made by or on behalf of a party obliged to pay the instrument and to a person entitled to enforce the instrument. To the extent of the payment, the obligation of the party obliged to pay the instrument is discharged even though payment is made with knowledge of a claim to the instrument under s. 403.306 by another person. 403.602(2) (2) The obligation of a party to pay the instrument is not discharged under sub.

(1)if any of the following applies: 403.602(2)(a) (a) A claim to the instrument under s. 403.306 is enforceable against the party receiving payment and payment is made with knowledge by the payer that payment is prohibited by injunction or similar process of a court of competent jurisd

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403.602
403.602(1) (1) Subject to sub. (2) , an instrument is paid to the extent that payment is made by or on behalf of a party obliged to pay the instrument and to a person entitled to enforce the instrument. To the extent of the payment, the obligation of the party obliged to pay the instrument is discharged even though payment is made with knowledge of a claim to the instrument under s. 403.306 by another person.
403.602(2) (2) The obligation of a party to pay the instrument is not discharged under sub. (1) if any of the following applies:
403.602(2)(a) (a) A claim to the instrument under s. 403.306 is enforceable against the party receiving payment and payment is made with knowledge by the payer that payment is prohibited by injunction or similar process of a court of competent jurisdiction, or, in the case of an instrument other than a cashier’s check, teller’s check or certified check, the party making payment accepted, from the person having a claim to the instrument, indemnity against loss resulting from refusal to pay the person entitled to enforce the instrument.
403.602(2)(b) (b) The person making payment knows that the instrument is a stolen instrument and pays a person with knowledge that the person is in wrongful possession of the instrument.