CHAPTER 401
UNIFORM COMMERCIAL CODE — GENERAL PROVISIONS
SUBCHAPTER I
GENERAL PROVISIONS
401.102 Scope of chapter.
401.103 Construction of uniform commercial code to promote its purposes and policies; applicability of supplemental principles of law.
401.104 Construction against implied repeal.
401.106 Use of singular and plural; gender.
SUBCHAPTER II
GENERAL DEFINITIONS AND
PRINCIPLES OF INTERPRETATION
401.201 General definitions.
401.202 Notice; knowledge.
401.203 Lease distinguished from security interest.
401.205 Reasonable time; seasonableness.
SUBCHAPTER III
TERRITORIAL APPLICABILITY AND GENERAL RULES
401.301 Territorial applicability; parties' power to choose applicable law.
401.302 Variation by agreement.
401.303 Course of performance, course of dealing, and usage of trade.
401.304 Obligation of good faith.
401.305 Remedies to be liberally administered.
401.306 Waiver or renunciation of claim or right after breach.
401.307 Prima facie evidence by 3rd-party documents.
401.308 Performance or acceptance under reservation of rights.
401.309 Option to accelerate at will.
401.310 Subordinated obligations.
GENERAL PROVISIONS
401.101(2)
(2) This chapter may be cited as uniform commercial code — general provisions.
401.101 History
History: 2009 a. 320.
401.102
401.102
Scope of chapter. This chapter applies to a transaction to the extent that it is governed by another chapter in
chs. 402 to
411.
401.102 History
History: 2009 a. 320.
401.103
401.103
Construction of uniform commercial code to promote its purposes and policies; applicability of supplemental principles of law. 401.103(1)
(1)
Chapters 401 to
411 must be liberally construed and applied to promote its underlying purposes and policies, which are all of the following:
401.103(1)(a)
(a) To simplify, clarify, and modernize the law governing commercial transactions.
401.103(1)(b)
(b) To permit the continued expansion of commercial practices through custom, usage, and agreement of the parties.
401.103(1)(c)
(c) To make uniform the law among the various jurisdictions.
401.103(2)
(2) Unless displaced by the particular provisions of
chs. 401 to
411, the principles of law and equity, including the law merchant and the law relative to capacity to contract, principal and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, bankruptcy, or other validating or invalidating cause shall supplement its provisions.
401.103 History
History: 2009 a. 320.
401.104
401.104
Construction against implied repeal. Chapters 401 to
411 being a general act intended as a unified coverage of its subject matter, no part of it shall be deemed to be impliedly repealed by subsequent legislation if such construction can reasonably be avoided.
401.104 History
History: 2009 a. 320.
401.106
401.106
Use of singular and plural; gender. In
chs. 401 to
411, unless the statutory context otherwise requires, all of the following apply:
401.106(1)
(1) Words in the singular number include the plural, and those in the plural include the singular.
401.106(2)
(2) Words of any gender also refer to any other gender.
401.106 History
History: 2009 a. 320.
401.107 History
History: 2009 a. 320.
GENERAL DEFINITIONS AND
PRINCIPLES OF INTERPRETATION
401.201
401.201
General definitions. 401.201(1)(1) Unless the context otherwise requires, words or phrases defined in this section, or in the additional definitions contained in
chs. 402 to
411 that apply to particular chapters or subchapters thereof, have the meanings stated.
401.201(2)
(2) Subject to definitions contained in
chs. 402 to
411 that apply to particular chapters or subchapters thereof, in
chs. 401 to
411:
401.201(2)(a)
(a) "Action," in the sense of a judicial proceeding, includes recoupment, counterclaim, setoff, suit in equity, and any other proceeding in which rights are determined.
