Wisconsin § 404.504 Privilege of presenting bank to deal with goods; security interest for expenses.

Wisconsin Statutes

§ 404.504 — Privilege of presenting bank to deal with goods; security interest for expenses.

Wisconsin § 404.504

Ch. 404Uniform commercial code — bank deposits and collections

Subch.subch. V of ch. 404 SUBCHAPTER V

COLLECTION OF DOCUMENTARY DRAFTS

This text of Wisconsin § 404.504 (Privilege of presenting bank to deal with goods; security interest for expenses.) 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. § 404.504 (2026).

Text

404.504 404.504(1) (1) A presenting bank that, following the dishonor of a documentary draft, has seasonably requested instructions but does not receive them within a reasonable time may store, sell, or otherwise deal with the goods in any reasonable manner. 404.504(2) (2) For its reasonable expenses incurred by action under sub.

(1), the presenting bank has a lien upon the goods or their proceeds, which may be foreclosed in the same manner as an unpaid seller’s lien.

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404.504
404.504(1) (1) A presenting bank that, following the dishonor of a documentary draft, has seasonably requested instructions but does not receive them within a reasonable time may store, sell, or otherwise deal with the goods in any reasonable manner.
404.504(2) (2) For its reasonable expenses incurred by action under sub. (1) , the presenting bank has a lien upon the goods or their proceeds, which may be foreclosed in the same manner as an unpaid seller’s lien.