AB688,12,2524 (d) A statement whether the goods received will be delivered to the bearer, to
25a named person, or to a named person or its order.
AB688,13,3
1(e) The rate of storage and handling charges, but if goods are stored under a
2field warehousing arrangement, a statement of that fact is sufficient on a
3nonnegotiable receipt.
AB688,13,44 (f) A description of the goods or the packages containing them.
AB688,13,55 (g) The signature of the warehouse or its agent.
AB688,13,76 (h) If the receipt is issued for goods that the warehouse owns, either solely,
7jointly, or in common with others, the fact of that ownership.
AB688,13,138 (i) A statement of the amount of advances made and of liabilities incurred for
9which the warehouse claims a lien or security interest, but if the precise amount of
10advances made or of liabilities incurred is, at the time of the issue of the receipt,
11unknown to the warehouse or to its agent that issued the receipt, a statement of the
12fact that advances have been made or liabilities incurred and the purpose of the
13advances or liabilities is sufficient.
AB688,13,16 14(3) A warehouse may insert in its receipt any terms that are not contrary to chs.
15401 to 411 and do not impair its obligation of delivery under s. 407.403 or its duty of
16care under s. 407.204. Any contrary provisions are ineffective.
AB688,13,21 17407.203 Liability for nonreceipt or misdescription. A party to or
18purchaser for value in good faith of a document of title, other than a bill of lading,
19that relies upon the description of the goods in the document may recover from the
20issuer damages caused by the nonreceipt or misdescription of the goods, except to the
21extent that any of the following apply:
AB688,14,2 22(1) The document conspicuously indicates that the issuer does not know
23whether all or part of the goods in fact were received or conform to the description,
24such as a case in which the description is in terms of marks or labels or kind, quantity,
25or condition, or the receipt or description is qualified by "contents, condition, and

1quality unknown," "said to contain," or words of similar import, if the indication is
2true.
AB688,14,4 3(2) The party or purchaser otherwise has notice of the nonreceipt or
4misdescription.
AB688,14,10 5407.204 Duty of care; contractual limitation of warehouse's liability.
6(1) A warehouse is liable for damages for loss of or injury to the goods caused by its
7failure to exercise care with regard to the goods that a reasonably careful person
8would exercise under similar circumstances. However, unless otherwise agreed, the
9warehouse is not liable for damages that could not have been avoided by the exercise
10of that care.
AB688,14,19 11(2) Damages may be limited by a term in the warehouse receipt or storage
12agreement limiting the amount of liability in case of loss or damage beyond which
13the warehouse is not liable. Such a limitation is not effective with respect to the
14warehouse's liability for conversion to its own use. The warehouse's liability, on
15request of the bailor in a record at the time of signing such storage agreement or
16within a reasonable time after receipt of the warehouse receipt, may be increased on
17part or all of the goods covered by the storage agreement or the warehouse receipt.
18In this event, increased rates may be charged based on an increased valuation of the
19goods.
AB688,14,22 20(3) Reasonable provisions as to the time and manner of presenting claims and
21commencing actions based on the bailment may be included in the warehouse receipt
22or storage agreement.
AB688,15,2 23407.205 Title under warehouse receipt defeated in certain cases. A
24buyer in ordinary course of business of fungible goods sold and delivered by a
25warehouse that is also in the business of buying and selling such goods takes the

1goods free of any claim under a warehouse receipt even if the receipt is negotiable
2and has been duly negotiated.
AB688,15,10 3407.206 Termination of storage at warehouse's option. (1) A warehouse,
4by giving notice to the person on whose account the goods are held and any other
5person known to claim an interest in the goods, may require payment of any charges
6and removal of the goods from the warehouse at the termination of the period of
7storage fixed by the document of title or, if a period is not fixed, within a stated period
8not less than 30 days after the warehouse gives notice. If the goods are not removed
9before the date specified in the notice, the warehouse may sell them pursuant to s.
10407.210.
AB688,15,16 11(2) If a warehouse in good faith believes that goods are about to deteriorate or
12decline in value to less than the amount of its lien within the time provided in sub.
13(1) and s. 407.210, the warehouse may specify in the notice given under sub. (1) any
14reasonable shorter time for removal of the goods and, if the goods are not removed,
15may sell them at public sale held not less than one week after a single advertisement
16or posting.
AB688,15,23 17(3) If, as a result of a quality or condition of the goods of which the warehouse
18did not have notice at the time of deposit, the goods are a hazard to other property,
19the warehouse facilities, or other persons, the warehouse may sell the goods at public
20or private sale without advertisement or posting on reasonable notification to all
21persons known to claim an interest in the goods. If the warehouse, after a reasonable
22effort, is unable to sell the goods, it may dispose of them in any lawful manner and
23does not incur liability by reason of that disposition.
AB688,16,3
1(4) A warehouse shall deliver the goods to any person entitled to them under
2this chapter upon due demand made at any time before sale or other disposition
3under this section.
AB688,16,6 4(5) A warehouse may satisfy its lien from the proceeds of any sale or disposition
5under this section but shall hold the balance for delivery on the demand of any person
6to which the warehouse would have been bound to deliver the goods.
AB688,16,10 7407.207 Goods must be kept separate; fungible goods. (1) Unless the
8warehouse receipt provides otherwise, a warehouse shall keep separate the goods
9covered by each receipt so as to permit at all times identification and delivery of those
10goods. However, different lots of fungible goods may be commingled.
AB688,16,15 11(2) If different lots of fungible goods are commingled, the goods are owned in
12common by the persons entitled thereto and the warehouse is severally liable to each
13owner for that owner's share. If, because of overissue, a mass of fungible goods is
14insufficient to meet all the receipts the warehouse has issued against it, the persons
15entitled include all holders to which overissued receipts have been duly negotiated.
AB688,16,20 16407.208 Altered warehouse receipts. If a blank in a negotiable tangible
17warehouse receipt has been filled in without authority, a good faith purchaser for
18value and without notice of the lack of authority may treat the insertion as
19authorized. Any other unauthorized alteration leaves any tangible or electronic
20warehouse receipt enforceable against the issuer according to its original tenor.
AB688,17,12 21407.209 Lien of warehouse. (1) A warehouse has a lien against the bailor
22on the goods covered by a warehouse receipt or storage agreement or on the proceeds
23thereof in its possession for charges for storage or transportation, including
24demurrage and terminal charges, insurance, labor, or other charges, present or
25future, in relation to the goods, and for expenses necessary for preservation of the

1goods or reasonably incurred in their sale pursuant to law. If the person on whose
2account the goods are held is liable for similar charges or expenses in relation to other
3goods whenever deposited, and it is stated in the warehouse receipt or storage
4agreement that a lien is claimed for charges and expenses in relation to other goods,
5the warehouse also has a lien against the goods covered by the warehouse receipt or
6storage agreement or on the proceeds thereof in its possession for those charges and
7expenses, whether or not the other goods have been delivered by the warehouse.
8However, as against a person to which a negotiable warehouse receipt is duly
9negotiated, a warehouse's lien is limited to charges in an amount or at a rate specified
10in the warehouse receipt or, if no charges are so specified, to a reasonable charge for
11storage of the specific goods covered by the receipt subsequent to the date of the
12receipt.
AB688,17,16 13(2) The warehouse may also reserve a security interest under ch. 409 against
14the bailor for the maximum amount specified on the receipt for charges other than
15those specified in sub. (1), such as for money advanced and interest. A security
16interest is governed by ch. 409.
AB688,17,23 17(3) A warehouse's lien for charges and expenses under sub. (1) or a security
18interest under sub. (2) is also effective against any person that so entrusted the bailor
19with possession of the goods that a pledge of them by the bailor to a good faith
20purchaser for value would have been valid. However, the lien or security interest is
21not effective against a person that before issuance of a document of title had a legal
22interest or a perfected security interest in the goods and that did not do any of the
23following:
AB688,18,324 (a) Deliver or entrust the goods or any document covering the goods to the bailor
25or the bailor's nominee with actual or apparent authority to ship, store, or sell; or

1with power to obtain delivery under s. 407.403; or with power of disposition under
2s. 402.403, 409.320, 409.321 (3), 411.304 (2), or 411.305 (2), or other statute or rule
3of law.
AB688,18,44 (b) Acquiesce in the procurement by the bailor or its nominee of any document.
AB688,18,9 5(4) A warehouse's lien on household goods for charges and expenses in relation
6to the goods under sub. (1) is also effective against all persons if the depositor was
7the legal possessor of the goods at the time of deposit. In this subsection, "household
8goods" means furniture, furnishings, or personal effects used by the depositor in a
9dwelling.
AB688,18,11 10(5) A warehouse loses its lien on any goods that it voluntarily delivers or
11unjustifiably refuses to deliver.
AB688,19,2 12407.210 Enforcement of warehouse's lien. (1) Except as otherwise
13provided in sub. (2), a warehouse's lien may be enforced by public or private sale of
14the goods, in bulk or in packages, at any time or place and on any terms that are
15commercially reasonable, after notifying all persons known to claim an interest in
16the goods. The notification must include a statement of the amount due, the nature
17of the proposed sale, and the time and place of any public sale. The fact that a better
18price could have been obtained by a sale at a different time or in a different method
19from that selected by the warehouse is not of itself sufficient to establish that the sale
20was not made in a commercially reasonable manner. The warehouse has sold in a
21commercially reasonable manner if the warehouse sells the goods in the usual
22manner in any recognized market therefor, sells at the price current in that market
23at the time of the sale, or has otherwise sold in conformity with commercially
24reasonable practices among dealers in the type of goods sold. A sale of more goods

1than apparently necessary to be offered to ensure satisfaction of the obligation is not
2commercially reasonable, except in cases covered by the preceding sentence.
AB688,19,5 3(2) A warehouse's lien on goods, other than goods stored by a merchant in the
4course of its business, may be enforced only if all of the following requirements are
5satisfied:
AB688,19,66 (a) All persons known to claim an interest in the goods must be notified.
AB688,19,117 (b) The notification must include an itemized statement of the claim, a
8description of the goods subject to the lien, a demand for payment within a specified
9time not less than 10 days after receipt of the notification, and a conspicuous
10statement that unless the claim is paid within that time the goods will be advertised
11for sale and sold by auction at a specified time and place.
AB688,19,1212 (c) The sale must conform to the terms of the notification.
AB688,19,1413 (d) The sale must be held at the nearest suitable place to where the goods are
14held or stored.
AB688,19,2215 (e) After the expiration of the time given in the notification, an advertisement
16of the sale must be published once a week for 2 weeks consecutively in a newspaper
17of general circulation where the sale is to be held. The advertisement must include
18a description of the goods, the name of the person on whose account the goods are
19being held, and the time and place of the sale. The sale must take place at least 15
20days after the first publication. If there is no newspaper of general circulation where
21the sale is to be held, the advertisement must be posted at least 10 days before the
22sale in not less than 6 conspicuous places in the neighborhood of the proposed sale.
AB688,20,2 23(3) Before any sale pursuant to this section, any person claiming a right in the
24goods may pay the amount necessary to satisfy the lien and the reasonable expenses
25incurred in complying with this section. In that event, the goods may not be sold but

1must be retained by the warehouse subject to the terms of the receipt and this
2chapter.
AB688,20,3 3(4) A warehouse may buy at any public sale held pursuant to this section.
AB688,20,6 4(5) A purchaser in good faith of goods sold to enforce a warehouse's lien takes
5the goods free of any rights of persons against which the lien was valid, despite the
6warehouse's noncompliance with this section.
AB688,20,9 7(6) A warehouse may satisfy its lien from the proceeds of any sale pursuant to
8this section but shall hold the balance, if any, for delivery on demand to any person
9to which the warehouse would have been bound to deliver the goods.
AB688,20,11 10(7) The rights provided by this section are in addition to all other rights allowed
11by law to a creditor against a debtor.
AB688,20,13 12(8) If a lien is on goods stored by a merchant in the course of its business, the
13lien may be enforced in accordance with sub. (1) or (2).
AB688,20,16 14(9) A warehouse is liable for damages caused by failure to comply with the
15requirements for sale under this section and, in case of willful violation, is liable for
16conversion.
AB688,20,1717 Subchapter III
AB688,20,1918 Bills of lading: Special
19 provisions
AB688,21,6 20407.301 Liability for nonreceipt or misdescription; "said to contain";
21"shipper's load and count"; improper handling.
(1) A consignee of a
22nonnegotiable bill of lading which has given value in good faith, or a holder to which
23a negotiable bill has been duly negotiated, relying upon the description of the goods
24in the bill or upon the date shown in the bill, may recover from the issuer damages
25caused by the misdating of the bill or the nonreceipt or misdescription of the goods,

1except to the extent that the document of title indicates that the issuer does not know
2whether any part or all of the goods in fact were received or conform to the
3description, such as in a case in which the description is in terms of marks or labels
4or kind, quantity, or condition or the receipt or description is qualified by "contents
5or condition of contents of packages unknown," "said to contain," "shipper's weight,
6load, and count," or words of similar import, if that indication is true.
AB688,21,11 7(2) If goods are loaded by the issuer of the bill of lading, the issuer shall count
8the packages of goods if shipped in packages and ascertain the kind and quantity if
9shipped in bulk and words such as "shipper's weight, load, and count," or words of
10similar import indicating that the description was made by the shipper are
11ineffective except as to goods concealed by packages.
AB688,21,16 12(3) If bulk goods are loaded by a shipper that makes available to the issuer of
13the bill of lading adequate facilities for weighing those goods, the issuer shall
14ascertain the kind and quantity within a reasonable time after receiving the
15shipper's request in a record to do so. In that case, "shipper's weight" or words of
16similar import are ineffective.
AB688,21,21 17(4) The issuer, by including in the bill of lading the words "shipper's weight,
18load, and count," or words of similar import, may indicate that the goods were loaded
19by the shipper, and, if that statement is true, the issuer is not liable for damages
20caused by the improper loading. However, omission of such words does not imply
21liability for damages caused by improper loading.
AB688,22,2 22(5) A shipper guarantees to the issuer the accuracy at the time of shipment of
23the description, marks, labels, number, kind, quantity, condition, and weight, as
24furnished by the shipper, and the shipper shall indemnify the issuer against damage
25caused by inaccuracies in those particulars. This right of the issuer to that indemnity

1does not limit its responsibility or liability under the contract of carriage to any
2person other than the shipper.
AB688,22,11 3407.302 Through bills of lading and similar documents of title. (1) The
4issuer of a through bill of lading or other document of title embodying an undertaking
5to be performed in part by a person acting as its agent or by a performing carrier is
6liable to any person entitled to recover on the document for any breach by the other
7person or the performing carrier of its obligation under the document. However, to
8the extent that the bill covers an undertaking to be performed overseas or in territory
9not contiguous to the continental United States or an undertaking including matters
10other than transportation, this liability for breach by the other person or the
11performing carrier may be varied by agreement of the parties.
AB688,22,18 12(2) If goods covered by a through bill of lading or other document of title
13embodying an undertaking to be performed in part by a person other than the issuer
14are received by that person, the person is subject, with respect to its own performance
15while the goods are in its possession, to the obligation of the issuer. The person's
16obligation is discharged by delivery of the goods to another person pursuant to the
17document and does not include liability for breach by any other person or by the
18issuer.
AB688,22,22 19(3) The issuer of a through bill of lading or other document of title described
20in sub. (1) is entitled to recover from the performing carrier, or other person in
21possession of the goods when the breach of the obligation under the document
22occurred, all of the following:
AB688,22,2523 (a) The amount it may be required to pay to any person entitled to recover on
24the document for the breach, as may be evidenced by any receipt, judgment, or
25transcript of judgment.
AB688,23,3
1(b) The amount of any expense reasonably incurred by the issuer in defending
2any action commenced by any person entitled to recover on the document for the
3breach.
AB688,23,7 4407.303 Diversion; reconsignment; change of instructions. (1) Unless
5the bill of lading otherwise provides, a carrier may deliver the goods to a person or
6destination other than that stated in the bill or may otherwise dispose of the goods,
7without liability for misdelivery, on instructions from any of the following:
AB688,23,88 (a) The holder of a negotiable bill.
AB688,23,109 (b) The consignor on a nonnegotiable bill even if the consignee has given
10contrary instructions.
AB688,23,1311 (c) The consignee on a nonnegotiable bill in the absence of contrary instructions
12from the consignor, if the goods have arrived at the billed destination or if the
13consignee is in possession of the tangible bill or in control of the electronic bill.
AB688,23,1514 (d) The consignee on a nonnegotiable bill, if the consignee is entitled as against
15the consignor to dispose of the goods.
AB688,23,18 16(2) Unless instructions described in sub. (1) are included in a negotiable bill of
17lading, a person to which the bill is duly negotiated may hold the bailee according to
18the original terms.
AB688,23,21 19407.304 Tangible bills of lading in a set. (1) Except as customary in
20international transportation, a tangible bill of lading may not be issued in a set of
21parts. The issuer is liable for damages caused by violation of this subsection.
AB688,23,24 22(2) If a tangible bill of lading is lawfully issued in a set of parts, each of which
23contains an identification code and is expressed to be valid only if the goods have not
24been delivered against any other part, the whole of the parts constitutes one bill.
AB688,24,5
1(3) If a tangible negotiable bill of lading is lawfully issued in a set of parts and
2different parts are negotiated to different persons, the title of the holder to which the
3first due negotiation is made prevails as to both the document of title and the goods
4even if any later holder may have received the goods from the carrier in good faith
5and discharged the carrier's obligation by surrendering its part.
AB688,24,7 6(4) A person that negotiates or transfers a single part of a tangible bill of lading
7issued in a set is liable to holders of that part as if it were the whole set.
AB688,24,10 8(5) The bailee is obliged to deliver in accordance with subch. IV against the first
9presented part of a tangible bill of lading lawfully issued in a set. Delivery in this
10manner discharges the bailee's obligation on the whole bill.
AB688,24,14 11407.305 Destination bills. (1) Instead of issuing a bill of lading to the
12consignor at the place of shipment, a carrier, at the request of the consignor, may
13procure the bill to be issued at destination or at any other place designated in the
14request.
AB688,24,18 15(2) Upon request of any person entitled as against a carrier to control the goods
16while in transit and on surrender of possession or control of any outstanding bill of
17lading or other receipt covering the goods, the issuer, subject to s. 407.105, may
18procure a substitute bill to be issued at any place designated in the request.
AB688,24,20 19407.306 Altered bills of lading. An unauthorized alteration or filling in of
20a blank in a bill of lading leaves the bill enforceable according to its original tenor.
AB688,25,3 21407.307 Lien of carrier. (1) A carrier has a lien on the goods covered by a
22bill of lading or on the proceeds thereof in its possession for charges after the date
23of the carrier's receipt of the goods for storage or transportation, including
24demurrage and terminal charges, and for expenses necessary for preservation of the
25goods incident to their transportation or reasonably incurred in their sale pursuant

1to law. However, against a purchaser for value of a negotiable bill of lading, a
2carrier's lien is limited to charges stated in the bill or the applicable tariffs or, if no
3charges are stated, a reasonable charge.
AB688,25,10 4(2) A lien for charges and expenses under sub. (1) on goods that the carrier was
5required by law to receive for transportation is effective against the consignor or any
6person entitled to the goods unless the carrier had notice that the consignor lacked
7authority to subject the goods to those charges and expenses. Any other lien under
8sub. (1) is effective against the consignor and any person that permitted the bailor
9to have control or possession of the goods unless the carrier had notice that the bailor
10lacked authority.
AB688,25,12 11(3) A carrier loses its lien on any goods that it voluntarily delivers or
12unjustifiably refuses to deliver.
AB688,26,2 13407.308 Enforcement of carrier's lien. (1) A carrier's lien on goods may
14be enforced by public or private sale of the goods, in bulk or in packages, at any time
15or place and on any terms that are commercially reasonable, after notifying all
16persons known to claim an interest in the goods. The notification must include a
17statement of the amount due, the nature of the proposed sale, and the time and place
18of any public sale. The fact that a better price could have been obtained by a sale at
19a different time or in a different method from that selected by the carrier is not of
20itself sufficient to establish that the sale was not made in a commercially reasonable
21manner. The carrier has sold goods in a commercially reasonable manner if the
22carrier sells the goods in the usual manner in any recognized market therefor, sells
23at the price current in that market at the time of the sale, or has otherwise sold in
24conformity with commercially reasonable practices among dealers in the type of
25goods sold. A sale of more goods than apparently necessary to be offered to ensure

1satisfaction of the obligation is not commercially reasonable, except in cases covered
2by the preceding sentence.
AB688,26,7 3(2) Before any sale pursuant to this section, any person claiming a right in the
4goods may pay the amount necessary to satisfy the lien and the reasonable expenses
5incurred in complying with this section. In that event, the goods may not be sold but
6must be retained by the carrier, subject to the terms of the bill of lading and this
7chapter.
AB688,26,8 8(3) A carrier may buy at any public sale pursuant to this section.
AB688,26,11 9(4) A purchaser in good faith of goods sold to enforce a carrier's lien takes the
10goods free of any rights of persons against which the lien was valid, despite the
11carrier's noncompliance with this section.
AB688,26,14 12(5) A carrier may satisfy its lien from the proceeds of any sale pursuant to this
13section but shall hold the balance, if any, for delivery on demand to any person to
14which the carrier would have been bound to deliver the goods.
AB688,26,16 15(6) The rights provided by this section are in addition to all other rights allowed
16by law to a creditor against a debtor.
AB688,26,18 17(7) A carrier's lien may be enforced pursuant to either sub. (1) or the procedure
18set forth in s. 407.210 (2).
AB688,26,21 19(8) A carrier is liable for damages caused by failure to comply with the
20requirements for sale under this section and, in case of willful violation, is liable for
21conversion.
AB688,27,2 22407.309 Duty of care; contractual limitation of carrier's liability. (1)
23A carrier that issues a bill of lading, whether negotiable or nonnegotiable, shall
24exercise the degree of care in relation to the goods which a reasonably careful person
25would exercise under similar circumstances. This subsection does not affect any

1statute, regulation, or rule of law that imposes liability upon a common carrier for
2damages not caused by its negligence.
AB688,27,8 3(2) Damages may be limited by a term in the bill of lading or in a transportation
4agreement that the carrier's liability may not exceed a value stated in the bill or
5transportation agreement if the carrier's rates are dependent upon value and the
6consignor is afforded an opportunity to declare a higher value and the consignor is
7advised of the opportunity. However, such a limitation is not effective with respect
8to the carrier's liability for conversion to its own use.
AB688,27,11 9(3) Reasonable provisions as to the time and manner of presenting claims and
10commencing actions based on the shipment may be included in a bill of lading or a
11transportation agreement.
AB688,27,1212 Subchapter Iv
AB688,27,1413 warehouse receipts and bills of
14 lading: general obligations
AB688,27,17 15407.401 Irregularities in issue of receipt or bill or conduct of issuer.
16The obligations imposed by this chapter on an issuer apply to a document of title even
17if any of the following are satisfied:
AB688,27,19 18(1) The document does not comply with the requirements of this chapter or of
19any other statute, rule, or regulation regarding its issue, form, or content.
AB688,27,20 20(2) The issuer violated laws regulating the conduct of its business.
AB688,27,22 21(3) The goods covered by the document were owned by the bailee when the
22document was issued.
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