403.105 – Issue of instrument.
403.105 Issue of instrument. (1) “Issue” means the first delivery of an instrument by the maker or drawer, whether to a holder or nonholder, for the purpose of giving rights on the instrument to any person. (2) An unissued instrument, or an unissued incomplete instrument that is completed, is binding on the maker or drawer, […]
403.106 – Unconditional promise or order.
403.106 Unconditional promise or order. (1) (a) Except as otherwise provided in this section, for the purposes of s. 403.104 (1), a promise or order is unconditional unless it states any of the following: 1. An express condition to payment. 2. That the promise or order is subject to or governed by another writing. 3. […]
403.107 – Instrument payable in foreign money.
403.107 Instrument payable in foreign money. Unless the instrument otherwise provides, an instrument that states the amount payable in foreign money may be paid in the foreign money or in an equivalent amount in dollars calculated by using the current bank-offered spot rate at the place of payment for the purchase of dollars on the […]
403.108 – Payable on demand or at definite time.
403.108 Payable on demand or at definite time. (1) A promise or order is payable on demand if any of the following applies: (a) It states that it is payable on demand or at sight, or otherwise indicates that it is payable at the will of the holder. (b) It does not state any time […]
403.109 – Payable to bearer or to order.
403.109 Payable to bearer or to order. (1) A promise or order is payable to bearer if any of the following applies: (a) It states that it is payable to bearer or to the order of bearer or otherwise indicates that the person in possession of the promise or order is entitled to payment. (b) […]
403.102 – Subject matter.
403.102 Subject matter. (1) This chapter applies to negotiable instruments. It does not apply to money, to payment orders governed by ch. 410 or to securities governed by ch. 408. (2) If there is a conflict between this chapter and ch. 404 or 409, chs. 404 and 409 govern. (3) Regulations of the board of […]
403.103 – Definitions.
403.103 Definitions. (1) In this chapter: (a) “Acceptor” means a drawee who has accepted a draft. (b) “Drawee” means a person ordered in a draft to make payment. (c) “Drawer” means a person who signs or is identified in a draft as a person ordering payment. (d) “Good faith” means honesty in fact and the […]
403.104 – Negotiable instrument.
403.104 Negotiable instrument. (1) Except as provided in subs. (3) and (4), “negotiable instrument” means an unconditional promise or order to pay a fixed amount of money, with or without interest or other charges described in the promise or order, if all of the following apply: (a) It is payable to bearer or to order […]