Wisconsin Statutes
§ 404.502 — Presentment of “on arrival” drafts.
Wisconsin § 404.502
JurisdictionWisconsin
Ch. 404Uniform commercial code — bank deposits and collections
Subch.subch. V of ch. 404 SUBCHAPTER V
COLLECTION OF DOCUMENTARY DRAFTS
This text of Wisconsin § 404.502 (Presentment of “on arrival” drafts.) 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. § 404.502 (2026).
Text
404.502 If a draft or the relevant instructions require presentment “on arrival”, “when goods arrive” or the like, the collecting bank need not present until in its judgment a reasonable time for arrival of the goods has expired. Refusal to pay or accept because the goods have not arrived is not dishonor; the bank must notify its transferor of the refusal but need not present the draft again until it is instructed to do so or learns of the arrival of the goods.
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Legislative History
404.502 History History: 1995 a. 449 .
Nearby Sections
15
§ 404.102
Applicability.§ 404.105
“Bank”; “collecting bank”; “depository bank”; “intermediary bank”; “payer bank”; “presenting bank”.§ 404.107
Separate office of a bank.§ 404.108
Time of receipt of items.§ 404.109
Delays.§ 404.110
Electronic presentment.§ 404.111
Statute of limitations.§ 404.203
Effect of instructions.Cite This Page — Counsel Stack
Bluebook (online)
Wisconsin § 404.502, Counsel Stack Legal Research, https://law.counselstack.com/statute/wi/404.502.