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 HistoryHistory: 2009 a. 320. 401.102401.102 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 HistoryHistory: 2009 a. 320. 401.103401.103 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 HistoryHistory: 2009 a. 320. 401.103 AnnotationBecause, under sub. (1) (c), one underlying purpose of Wisconsin’s U.C.C. is to make uniform the law among the various jurisdictions, Wisconsin courts give substantial weight to cases from other jurisdictions when resolving issues that arise under that code. Deutsche Bank National Trust Company v. Wuensch, 2018 WI 35, 380 Wis. 2d 727, 911 N.W.2d 1, 15-0175. 401.104401.104 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 HistoryHistory: 2009 a. 320. 401.106401.106 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 HistoryHistory: 2009 a. 320. 401.107 HistoryHistory: 2009 a. 320. GENERAL DEFINITIONS AND
PRINCIPLES OF INTERPRETATION
401.201401.201 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.
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