table of contents - marketplace · table of contents chapter 1 contracts ... parol evidence rule c....

© May 2006, State Bar of Wisconsin CLE Books TOC-1

Table of Contents

CHAPTER 1CONTRACTSby Ralph C. Anzivino

I. [§ 3.1.1] IntroductionA. [§ 3.1.2] Scope of ChapterB. [§ 3.1.3] Sources of Wisconsin LawC. [§ 3.1.4] Definition of a Contract; Agreement

Contrasted

II. [§ 3.1.5] Principles of Contract: Freedom of Contractand Choice of Law

A. [§ 3.1.6] Freedom of ContractB. [§ 3.1.7] Choice of Law

III. [§ 3.1.8] Types of ContractsA. [§ 3.1.9] Express ContractsB. [§ 3.1.10] Implied ContractsC. [§ 3.1.11] Electronic Transactions—The Uniform

Electronic Transactions Act (UETA)

IV. [§ 3.1.12] Formation of the AgreementA. [§ 3.1.13] Manifestation of AssentB. [§ 3.1.14] The Offer

1. [§ 3.1.15] Elements2. [§ 3.1.16] Duration of the Offeree’s Power of

AcceptanceC. [§ 3.1.17] Acceptance

1. [§ 3.1.18] In General2. [§ 3.1.19] Acceptance with Varying Terms3. [§ 3.1.20] Methods of Acceptance4. [§ 3.1.21] Communication of Acceptance5. [§ 3.1.22] Silence as a Means of Acceptance

D. [§ 3.1.23] Consideration1. [§ 3.1.24] Contracts with Consideration2. [§ 3.1.25] Modification of the Contract

TABLE OF CONTENTS

TOC-2 © May 2006, State Bar of Wisconsin CLE Books

3. [§ 3.1.26] Promises Enforced WithoutConsideration

4. [§ 3.1.27] Contracts Under Seal

V. [§ 3.1.28] Statute of FraudsA. [§ 3.1.29] ScopeB. [§ 3.1.30] ComplianceC. [§ 3.1.31] Exceptions

VI. [§ 3.1.32] Defective FormationA. [§ 3.1.33] In GeneralB. [§ 3.1.34] Capacity to ContractC. [§ 3.1.35] Mistake

1. [§ 3.1.36] In General2. [§ 3.1.37] Unilateral Mistake3. [§ 3.1.38] Mutual Mistake4. [§ 3.1.39] Bearing the Risk of the Mistake

D. [§ 3.1.40] MisrepresentationE. [§ 3.1.41] Public PolicyF. [§ 3.1.42] Exculpatory ClausesG. [§ 3.1.43] Restrictive Covenants in Employment

ContractsH. [§ 3.1.44] UnconscionabilityI. [§ 3.1.45] DuressJ. [§ 3.1.46] Undue InfluenceK. [§ 3.1.47] Vagueness

VII. [§ 3.1.48] Contract InterpretationA. [§ 3.1.49] Parol Evidence RuleB. [§ 3.1.50] Ambiguous TermsC. [§ 3.1.51] Rules of Interpretation

VIII. [§ 3.1.52] Performance or BreachA. [§ 3.1.53] Conditions of a Contract

1. [§ 3.1.54] In General2. [§ 3.1.55] Performance of Condition

B. [§ 3.1.56] Promises1. [§ 3.1.57] Concurrent and Noncurrent

Obligations2. [§ 3.1.58] Good Faith and Fair Dealing3. [§ 3.1.59] As-Is Clause4. [§ 3.1.60] “Time is of the Essence” Clause

TABLE OF CONTENTS


5. [§ 3.1.61] Substantial Performance6. [§ 3.1.62] Anticipatory Repudiation and

Prospective Inability of Performance7. [§ 3.1.63] Breach

C. [§ 3.1.64] Assignment and DelegationD. [§ 3.1.65] Third-Party BeneficiaryE. [§ 3.1.66] Changed CircumstancesF. [§ 3.1.67] WaiverG. [§ 3.1.68] Accord and Satisfaction

IX. [§ 3.1.69] RemediesA. [§ 3.1.70] Remedies AvailableB. [§ 3.1.71] Compensatory Damages

1. [§ 3.1.72] Purpose2. [§ 3.1.73] Elements3. [§ 3.1.74] Damage Limitations

a. [§ 3.1.75] In Generalb. [§ 3.1.76] Statute of Limitationc. [§ 3.1.77] Liquidated Damagesd. [§ 3.1.78] Economic Loss Doctrinee. [§ 3.1.79] Mitigation of Damages

4. [§ 3.1.80] RestitutionC. [§ 3.1.81] Punitive DamagesD. [§ 3.1.82] Specific PerformanceE. [§ 3.1.83] ReformationF. [§ 3.1.84] Rescission

CHAPTER 2CONSUMER RIGHTS AND RESPONSIBILITIESby Amy M. Salberg

I. [§ 3.2.1] Scope of Chapter

II. [§ 3.2.2] The Wisconsin Consumer ActA. [§ 3.2.3] In GeneralB. [§ 3.2.4] Consumer Credit Transactions

1. [§ 3.2.5] In General2. [§ 3.2.6] Finance Charge 3. [§ 3.2.7] Additional Permitted Charges

a. [§ 3.2.8] Closed-End Transactionsb. [§ 3.2.9] Open-End Credit Plans

TABLE OF CONTENTS


4. [§ 3.2.10] Limitations on Agreements andPractices

5. [§ 3.2.11] Consumer Credit InsuranceC. [§ 3.2.12] Marital PropertyD. [§ 3.2.13] Consumer RemediesE. [§ 3.2.14] Automobile Lease TransactionsF. [§ 3.2.15] Default

1. [§ 3.2.16] In General2. [§ 3.2.17] Definition of Default3. [§ 3.2.18] Right to Cure

G. [§ 3.2.19] Debt Collection and Repossession1. [§ 3.2.20] In General2. [§ 3.2.21] Prohibited Debt Collection Practices3. [§ 3.2.22] Repossession of Collateral

a. [§ 3.2.23] Self-Help Repossessionb. [§ 3.2.24] Voluntary Surrenderc. [§ 3.2.25] Replevin Actions

H. [§ 3.2.26] Administration and Enforcement

III. [§ 3.2.27] Three-Day Right to Cancel

IV. [§ 3.2.28] High Cost Mortgage LoansA. [§ 3.2.29] ApplicabilityB. [§ 3.2.30] Requirements and Restrictions

V. [§ 3.2.31] Unfair and Deceptive Acts and Practices

VI. [§ 3.2.32] No-Call List

VII. [§ 3.2.33] Lemon Law

VIII. [§ 3.2.34] Prize Notices

TABLE OF CONTENTS


CHAPTER 3SALESby Ralph C. Anzivino

I. [§ 3.3.1] General ConstructionA. [§ 3.3.2] Scope of Chapter; Code by AnalogyB. [§ 3.3.3] Source of Wisconsin LawC. [§ 3.3.4] Supplemental PrinciplesD. [§ 3.3.5] Choice of LawE. [§ 3.3.6] Important Definitions

1. [§ 3.3.7] Agreement or Contract2. [§ 3.3.8] Merchant3. [§ 3.3.9] Goods

II. [§ 3.3.10] Forms and FormationA. [§ 3.3.11] Statute of FraudsB. [§ 3.3.12] Parol Evidence RuleC. [§ 3.3.13] Formation

1. [§ 3.3.14] In General2. [§ 3.3.15] Firm Offers3. [§ 3.3.16] Offer and Acceptance4. [§ 3.3.17] Battle of the Forms

D. [§ 3.3.18] ModificationE. [§ 3.3.19] Assignment; Delegation

III. [§ 3.3.20] Construction of ContractA. [§ 3.3.21] UnconscionabilityB. [§ 3.3.22] Statutory Terms: Gap Fillers

1. [§ 3.3.23] Price2. [§ 3.3.24] Output or Requirements Contract3. [§ 3.3.25] Delivery4. [§ 3.3.26] Time 5. [§ 3.3.27] Payment

C. [§ 3.3.28] Warranties1. [§ 3.3.29] Title; Infringement2. [§ 3.3.30] Express Warranty3. [§ 3.3.31] Implied Warranty of Merchantability;

Warranty Through Trade Practice4. [§ 3.3.32] Warranty of Fitness for a Particular

Purpose5. [§ 3.3.33] Exclusion or Modification of

Warranty

TABLE OF CONTENTS


6. [§ 3.3.34] Cumulation and Conflict of Warranty7. [§ 3.3.35] Privity and Third-Party Beneficiaries8. [§ 3.3.36] Economic Loss Doctrine; Strict Tort

D. [§ 3.3.37] Shipping Contracts; Destination Contracts;Shipping Terms

E. [§ 3.3.38] ConsignmentsF. [§ 3.3.39] Auctions

IV. [§ 3.3.40] Title; Voidable Title; Creditors’ Rights andGood Faith Purchasers

A. [§ 3.3.41] Title; Voidable Title; Good Faith PurchaserB. [§ 3.3.42] Fraudulent Retention; Buyer’s Right to

Recover

V. [§ 3.3.43] PerformanceA. [§ 3.3.44] IdentificationB. [§ 3.3.45] Seller’s Tender of the GoodsC. [§ 3.3.46] Seller’s ShipmentD. [§ 3.3.47] PaymentE. [§ 3.3.48] Risk of Loss

VI. [§ 3.3.49] Breach, Repudiation, and ExcuseA. [§ 3.3.50] Buyer’s Right to InspectB. [§ 3.3.51] Preserving Evidence of Goods in DisputeC. [§ 3.3.52] Perfect Tender RuleD. [§ 3.3.53] Installment ContractsE. [§ 3.3.54] Rightful RejectionF. [§ 3.3.55] Buyer’s Obligation to ParticularizeG. [§ 3.3.56] Seller’s Right to CureH. [§ 3.3.57] Buyer’s Duty to Rejected or Revoked GoodsI. [§ 3.3.58] Acceptance of the Goods

1. [§ 3.3.59] In General2. [§ 3.3.60] Effect of Acceptance3. [§ 3.3.61] Revocation of Acceptance

J. [§ 3.3.62] Right to Adequate AssurancesK. [§ 3.3.63] Anticipatory RepudiationL. [§ 3.3.64] Excuse

1. [§ 3.3.65] Casualty to Identified Goods2. [§ 3.3.66] Failure of Presupposed Conditions3. [§ 3.3.67] Substituted Performance

TABLE OF CONTENTS


VII. [§ 3.3.68] Seller’s RemediesA. [§ 3.3.69] In GeneralB. [§ 3.3.70] On Buyer’s InsolvencyC. [§ 3.3.71] Unfinished GoodsD. [§ 3.3.72] Right to Stop in TransitE. [§ 3.3.73] ResaleF. [§ 3.3.74] Hypothetical ResaleG. [§ 3.3.75] Lost ProfitsH. [§ 3.3.76] Action for the Price I. [§ 3.3.77] Incidental Damages

VIII. [§ 3.3.78] Buyer’s DamagesA. [§ 3.3.79] In GeneralB. [§ 3.3.80] Buyer’s Right to the GoodsC. [§ 3.3.81] CoverD. [§ 3.3.82] Hypothetical CoverE. [§ 3.3.83] Damages for Goods AcceptedF. [§ 3.3.84] Incidental and Consequential DamagesG. [§ 3.3.85] Specific Performance and Replevin

IX. [§ 3.3.86] Miscellaneous Remedy IssuesA. [§ 3.3.87] Liquidated Damages and DepositsB. [§ 3.3.88] Contractual Modification or Limitation of

RemediesC. [§ 3.3.89] Remedies for FraudD. [§ 3.3.90] Statute of Limitation

X. [§ 3.3.91] Liquor Licensing A. [§ 3.3.92] State Power to ControlB. [§ 3.3.93] Definition of Alcoholic BeveragesC. [§ 3.3.94] Licenses D. [§ 3.3.95] PermitsE. [§ 3.3.96] Licensing Requirements and RestrictionsF. [§ 3.3.97] FeesG. [§ 3.3.98] Revocations, Suspensions, and Refusals to

Issue or RenewH. [§ 3.3.99] Liability for Furnishing Alcoholic Beverages

TABLE OF CONTENTS


CHAPTER 4COMMERCIAL PAPERby Michael C. Lueder


II. [§ 3.4.2] Resources to Learn More

III. [§ 3.4.3] History of Adoption of UCC in Wisconsin

IV. [§ 3.4.4] Interplay Between Articles 3 and 4

V. [§ 3.4.5] Definitions

VI. [§ 3.4.6] Interpreting Ambiguous Instruments

VII. [§ 3.4.7] Rights and Practices in the Check CollectionProcess

A. [§ 3.4.8] Importance of the Deposit AgreementB. [§ 3.4.9] Duties of the Payer Bank

1. [§ 3.4.10] Pay Properly Payable Checks2. [§ 3.4.11] Exercise Ordinary Care3. [§ 3.4.12] Wrongful Dishonor4. [§ 3.4.13] Overdrafts5. [§ 3.4.14] Postdated Checks

VIII. [§ 3.4.15] Customer’s Duty to Examine Statements

IX. [§ 3.4.16] Bank Defenses to Paying a Check NotProperly Payable

A. [§ 3.4.17] In GeneralB. [§ 3.4.18] Specific Factors

1. [§ 3.4.19] Customer Negligence Contributing tothe Loss

2. [§ 3.4.20] Impostor3. [§ 3.4.21] Fictitious Payee4. [§ 3.4.22] Employee with Responsibility5. [§ 3.4.23] Common Law References

X. [§ 3.4.24] Stop-Payment Orders

TABLE OF CONTENTS


XI. [§ 3.4.25] Stale Checks

XII. [§ 3.4.26] Accord and Satisfaction

XIII. [§ 3.4.27] Death or Incompetence of a Customer

CHAPTER 5INTRODUCTION TO LETTERS OF CREDITby Andrew J. Wronski


II. [§ 3.5.2] Governing Law, Customs, and PrinciplesA. [§ 3.5.3] In GeneralB. [§ 3.5.4] Article 5 of the Uniform Commercial CodeC. [§ 3.5.5] The International Chamber of Commerce

1. [§ 3.5.6] UCP 500 and the ISP982. [§ 3.5.7] Relation of UCP 500 and ISP98 to

Article 5

III. [§ 3.5.8] What is a Letter of Credit?A. [§ 3.5.9] In GeneralB. [§ 3.5.10] The Parties to a Letter of Credit TransactionC. [§ 3.5.11] Technical Requirements for a Letter of

CreditD. [§ 3.5.12] The “Independence Principle” and Primary

Nature of the Issuer’s ObligationE. [§ 3.5.13] Expiration and RevocationF. [§ 3.5.14] Types of Letters of Credit

1. [§ 3.5.15] In General2. [§ 3.5.16] Commercial vs. Standby Letters of

Credit3. [§ 3.5.17] Documentary vs. Clean Letters of

Credit

IV. [§ 3.5.18] Rights and Obligations Created by a Letter ofCredit Transaction

A. [§ 3.5.19] The Applicant-Beneficiary RelationshipB. [§ 3.5.20] The Applicant-Issuer Relationship

1. [§ 3.5.21] In General2. [§ 3.5.22] Duties of the Applicant to the Issuer

TABLE OF CONTENTS


3. [§ 3.5.23] Duties of the Issuer to the Applicanta. [§ 3.5.24] In Generalb. [§ 3.5.25] Wrongful Dishonorc. [§ 3.5.26] Wrongful Honord. [§ 3.5.27] Limitations on the Issuer’s

Duty—Good Faith and the Rule ofStrict Compliance

(1) [§ 3.5.28] In General(2) [§ 3.5.29] Good Faith(3) [§ 3.5.30] Observance of Banking

“Usage” and Standards(4) [§ 3.5.31] Limited Review of

Documentary Presentationfor Facial Compliance withLetter of Credit

(5) [§ 3.5.32] The “Strict Compliance”Standard

C. [§ 3.5.33] The Issuer-Beneficiary Relationship

V. [§ 3.5.34] Dealing with Claims of Forgery or FraudA. [§ 3.5.35] In GeneralA. [§ 3.5.36] Old Article 5B. [§ 3.5.37] Revised Article 5

VI. [§ 3.5.38] Letters of Credit in Bankruptcy CourtA. [§ 3.5.39] In GeneralB. [§ 3.5.40] The Automatic StayC. [§ 3.5.41] Injunctive Relief Under Section 105 of the

Bankruptcy CodeD. [§ 3.5.42] Preference Issues Under Section 547 of the

Bankruptcy Code

TABLE OF CONTENTS


CHAPTER 6BULK TRANSFERS UNDER UCC ARTICLE 6by David I. Cisar

I. [§ 3.6.1] Scope of Chapter and Overview

II. [§ 3.6.2] ApplicabilityA. [§ 3.6.3] Enterprises and Transactions Subject to

Chapter 406B. [§ 3.6.4] Excluded TransactionsC. [§ 3.6.5] Covered Goods

III. [§ 3.6.6] Procedures Required for ComplianceA. [§ 3.6.7] Preparation and Maintenance of List of

Transferor’s Creditors, and Schedule ofProperty

B. [§ 3.6.8] Required Notices to Creditors1. [§ 3.6.9] In General2. [§ 3.6.10] General Notice Requirements3. [§ 3.6.11] Auction Notice Requirements

IV. [§ 3.6.12] Statute of Limitation

CHAPTER 7DOCUMENTS OF TITLE AND UCC ARTICLE 7by David I. Cisar

I. [§ 3.7.1] IntroductionA. [§ 3.7.2] Scope of Chapter and OverviewB. [§ 3.7.3] Other Governing Law

II. [§ 3.7.4] Definitions and Important ConceptsA. [§ 3.7.5] Definition of Documents of TitleB. [§ 3.7.6] Definition of Bill of LadingC. [§ 3.7.7] Definition of Warehouse ReceiptD. [§ 3.7.8] Definition of Delivery OrderE. [§ 3.7.9] Negotiable and Nonnegotiable DocumentsF. [§ 3.7.10] Definition of BaileeG. [§ 3.7.11] Definition of IssuerH. [§ 3.7.12] Definition of Consignor and Consignee

TABLE OF CONTENTS


I. [§ 3.7.13] Definition of Freight ForwarderJ. [§ 3.7.14] Definition of Warehouse Keeper

III. [§ 3.7.15] Warehouse ReceiptsA. [§ 3.7.16] Warehouse Receipts GenerallyB. [§ 3.7.17] Form of Warehouse ReceiptsC. [§ 3.7.18] Issuer’s Liability for Nonreceipt and

MisdescriptionD. [§ 3.7.19] Warehouse Keeper’s Standard of Care;

Limitation of LiabilityE. [§ 3.7.20] Rights of Buyer in the Ordinary CourseF. [§ 3.7.21] Termination of Storage by Warehouse

KeeperG. [§ 3.7.22] Warehouse Keepers Obligation to Keep

Goods Separate Unless FungibleH. [§ 3.7.23] Altered ReceiptsI. [§ 3.7.24] Warehouse LienJ. [§ 3.7.25] Enforcement of a Warehouse Keeper’s Lien

IV. [§ 3.7.26] Bills of LadingA. [§ 3.7.27] Bills of Lading Generally; Liability for

Nonreceipt or MisdescriptionB. [§ 3.7.28] Form of Bills of LadingC. [§ 3.7.29] Diversion of GoodsD. [§ 3.7.30] Carrier’s LienE. [§ 3.7.31] Enforcement of Carrier LienF. [§ 3.7.32] Duty of Carrier’s Care; Limitation of

Liability

V. [§ 3.7.33] General Obligations of Documents of TitleA. [§ 3.7.34] Irregularities in Issue of Receipt or Bill or

Conduct of IssuerB. [§ 3.7.35] Duplicate Warehouse Receipts or Bills of

LadingC. [§ 3.7.36] Obligation of Warehouse Keeper or Carrier

for Delivery of the GoodsD. [§ 3.7.37] No Liability for Good Faith Delivery

VI. [§ 3.7.38] Negotiation and Transfer of Documents ofTitle

A. [§ 3.7.39] Form of NegotiationB. [§ 3.7.40] Rights Acquired by Due Negotiation

TABLE OF CONTENTS


C. [§ 3.7.41] Exceptions to Title to Goods Transferred byNegotiation

D. [§ 3.7.42] Rights Acquired in Absence of DueNegotiation

E. [§ 3.7.43] Endorser Not a Guarantor for Other PartiesF. [§ 3.7.44] Right to Compel EndorsementG. [§ 3.7.45] Warranties on NegotiationH. [§ 3.7.46] Warranties of Collecting Bank as to

Documents

VII. [§ 3.7.47] Miscellaneous ProvisionsA. [§ 3.7.48] Lost and Missing DocumentsB. [§ 3.7.49] Attachment of Goods Covered by a

Negotiable DocumentC. [§ 3.7.50] Conflicting Claims

CHAPTER 8PERSONAL PROPERTY LEASESby Mark C. Young

I. [§ 3.8.1] Introduction and Scope of Chapter

II. [§ 3.8.2] Definitions

III. [§ 3.8.3] Formation of the LeaseA. [§ 3.8.4] In GeneralB. [§ 3.8.5] IdentificationC. [§ 3.8.6] Lease or Purchase Transaction: Tax

ConsequencesD. [§ 3.8.7] Modification, Rescission, and WaiverE. [§ 3.8.8] Assignment by Lessee or LessorF. [§ 3.8.9] Purchase Option in Lessee

IV. [§ 3.8.10] Title and Security IssuesA. [§ 3.8.11] In GeneralB. [§ 3.8.12] Transfers of Leased Goods by Lessor or

LesseeC. [§ 3.8.13] Priority and Rights of Third Parties

1. [§ 3.8.14] In General2. [§ 3.8.15] “Repairer’s Liens”

TABLE OF CONTENTS


3. [§ 3.8.16] Rights of Creditors of Lessor andLessee

4. [§ 3.8.17] Special Creditor Rights

V. [§ 3.8.18] WarrantiesA. [§ 3.8.19] Express WarrantiesB. [§ 3.8.20] Warranties Against Interference and

InfringementC. [§ 3.8.21] Implied Warranties

1. [§ 3.8.22] In General2. [§ 3.8.23] Merchantability3. [§ 3.8.24] Fitness for a Particular Purpose

VI. [§ 3.8.25] Consumer Leases

VII. [§ 3.8.26] Finance LeasesA. [§ 3.8.27] In GeneralB. [§ 3.8.28] Hell or High Water Clauses

VIII. [§ 3.8.29] Performance IssuesA. [§ 3.8.30] “Insecurity”B. [§ 3.8.31] Anticipatory RepudiationC. [§ 3.8.32] “Substituted” and “Excused” Performance

1. [§ 3.8.33] In General2. [§ 3.8.34] Substituted Performance3. [§ 3.8.35] Excused Performance4. [§ 3.8.36] Other Obligations

a. [§ 3.8.37] In Generalb. [§ 3.8.38] Use and Maintenancec. [§ 3.8.39] Movement and Location of Goodsd. [§ 3.8.40] Quiet Enjoyment

IX. [§ 3.8.41] Risk of Loss; Casualty to Goods; InsuranceA. [§ 3.8.42] Risk of LossB. [§ 3.8.43] Casualty to Identified GoodsC. [§ 3.8.44] Insurance

X. [§ 3.8.45] Default and RemediesA. [§ 3.8.46] In GeneralB. [§ 3.8.47] Rights and Remedies in GeneralC. [§ 3.8.48] Consequential DamagesD. [§ 3.8.49] Liquidated Damages

TABLE OF CONTENTS


E. [§ 3.8.50] Cancellation and Termination1. [§ 3.8.51] In General2. [§ 3.8.52] Cancellation3. [§ 3.8.53] Termination4. [§ 3.8.54] Rescission

XI. [§ 3.8.55] Lessor’s Default and Lessee’s RemediesA. [§ 3.8.56] Default by LessorB. [§ 3.8.57] Lessee’s Remedies (General)C. [§ 3.8.58] AcceptanceD. [§ 3.8.59] Lessee’s Remedies (Specific Remedies)

1. [§ 3.8.60] Rejection2. [§ 3.8.61] Rejection Under an Installment Lease

E. [§ 3.8.62] Revocation of AcceptanceF. [§ 3.8.63] Cure by LessorG. [§ 3.8.64] Security Interest of Lessee in Rejected

GoodsH. [§ 3.8.65] Lessee’s Duties as to Rejected GoodsI. [§ 3.8.66] Cover and DamagesJ. [§ 3.8.67] Lessee’s Notice Obligation for Claim by

Third Party

XII. [§ 3.8.68] Lessee’s Default and Lessor’s RemediesA. [§ 3.8.69] Default Definition in the LeaseB. [§ 3.8.70] Statutory Definition of Lessee DefaultC. [§ 3.8.71] Lessor’s RemediesD. [§ 3.8.72] Lessor’s Right to PossessionE. [§ 3.8.73] Lessor’s Right to Dispose of GoodsF. [§ 3.8.74] Re-Leasing by LessorG. [§ 3.8.75] Lessor’s Damages Without New LeaseH. [§ 3.8.76] Action for RentI. [§ 3.8.77] Incidental DamagesJ. [§ 3.8.78] General Remedies Issues

1. [§ 3.8.79] Market Rent Damages2. [§ 3.8.80] Statute of Limitation3. [§ 3.8.81] Claims Against Third Parties

Appendices8A Consumer Lease Provisions Within Chapter 4118B Finance Lease Provisions Within Chapter 411

TABLE OF CONTENTS


CHAPTER 9SECURED TRANSACTIONSby Jamila S. Covington


II. [§ 3.9.2] Transition Period

III. [§ 3.9.3] Creation of a Security InterestA. [§ 3.9.4] In GeneralB. [§ 3.9.5] AttachmentC. [§ 3.9.6] Value and Rights in the CollateralD. [§ 3.9.7] Security Agreement

IV. [§ 3.9.8] PerfectionA. [§ 3.9.9] Perfection of a Security Interest by Filing

Financing StatementsB. [§ 3.9.10] Perfection of a Security Interest by

Possession or Control C. [§ 3.9.11] Automatic Perfection of a Security InterestD. [§ 3.9.12] Security Interests Perfected Under or Subject

to State or Federal Laws

V. [§ 3.9.13] Financing StatementsA. [§ 3.9.14] Financing Statement–Components

1. [§ 3.9.15] Sufficiency of Financing Statement,Generally

2. [§ 3.9.16] Debtor’s Name3. [§ 3.9.17] Describing the Collateral4. [§ 3.9.18] Special Rules for Fixtures as

CollateralB. [§ 3.9.19] Financing Statements—Filing

1. [§ 3.9.20] Filing Locations2. [§ 3.9.21] Filing Procedures for Financing

Statements and Amendments3. [§ 3.9.22] Filing Fees4. [§ 3.9.23] Acceptance of a Financing Statement

by the Filing Office5. [§ 3.9.24] Authorization to File a Financing

Statement6. [§ 3.9.25] Authorization to File Financing

Statement Amendments

TABLE OF CONTENTS


7. [§ 3.9.26] Termination and Lapsing of FinancingStatements

C. [§ 3.9.27] Financing Statements—Problems1. [§ 3.9.28] Rejected Filings2. [§ 3.9.29] Mistakes3. [§ 3.9.30] Correcting a Financing Statement4. [§ 3.9.31] Indexing Problems

VI. [§ 3.9.32] Priority IssuesA. [§ 3.9.33] General Priority RulesB. [§ 3.9.34] Control-Based ExceptionsC. [§ 3.9.35] Purchase-Money Security InterestsD. [§ 3.9.36] PMSIs in GoodsE. [§ 3.9.37] PMSIs in InventoryF. [§ 3.9.38] Priority Rules for Future Advances

VII. [§ 3.9.39] Rights of Third PartiesA. [§ 3.9.40] Buyers in the Ordinary CourseB. [§ 3.9.41] Transferees of CollateralC. [§ 3.9.42] Licensees and LesseesD. [§ 3.9.43] Statutory Liens

VIII. [§ 3.9.44] Fixtures

IX. [§ 3.9.45] Accessions and Commingled Goods

X. [§ 3.9.46] Priority Subordination

XI. [§ 3.9.47] Issues with Specific Types of Collateral

XII. [§ 3.9.48] Perfection and Priority of InvestmentProperty

A. [§ 3.9.49] General RulesB. [§ 3.9.50] ControlC. [§ 3.9.51] Control for Certificated and Uncertificated

Securities and Security EntitlementsD. [§ 3.9.52] Priority

XIII. [§ 3.9.53] Deposit Accounts

XIV. [§ 3.9.54] Letter-of-Credit Rights

TABLE OF CONTENTS


XV. [§ 3.9.55] Commercial Tort Claims

XVI. [§ 3.9.56] Proceeds

XVII. [§ 3.9.57] Changes in Secured Party or DebtorInformation

A. [§ 3.9.58] Name and Location Changes of the DebtorB. [§ 3.9.59] Secured Party Assignments

XVIII. [§ 3.9.60] DefaultA. [§ 3.9.61] Enforcement After DefaultB. [§ 3.9.62] WaiverC. [§ 3.9.63] Disposition of CollateralD. [§ 3.9.64] Fixtures

XIX. [§ 3.9.65] Collection and Enforcement of RightsA. [§ 3.9.66] In GeneralB. [§ 3.9.67] Applying the Proceeds of Collection

XX. [§ 3.9.68] Repossession

XXI. [§ 3.9.69] Disposing of the CollateralA. [§ 3.9.70] In GeneralB. [§ 3.9.71] Notices Needed for Disposing of the

CollateralC. [§ 3.9.72] Notices of Disposition for Nonconsumer

Goods TransactionsD. [§ 3.9.73] Notices of Disposition for Consumer Goods

TransactionsE. [§ 3.9.74] SurplusesF. [§ 3.9.75] Transfer Statements

XXII. [§ 3.9.76] Strict Foreclosure

XXIII. [§ 3.9.77] Mandatory Disposition of Consumer Goods

XXIV. [§ 3.9.78] Obligations of the Secured PartyA. [§ 3.9.79] Taking Reasonable Care of the CollateralB. [§ 3.9.80] Providing InformationC. [§ 3.9.81] Filing Termination Statements

TABLE OF CONTENTS


CHAPTER 10INTERNET LAWby Rebecca Grassl Bradley & Nicole J. Renouard

I. [§ 3.10.1] Scope

II. [§ 3.10.2] Buying and Selling over the InternetA. [§ 3.10.3] In GeneralB. [§ 3.10.4] E-mail

1. [§ 3.10.5] CAN-SPAM Act of 20032. [§ 3.10.6] State Regulation of Unsolicited

Commercial E-mail3. [§ 3.10.7] Common Law Prohibitions on

Unsolicited Emaila. [§ 3.10.8] Trespass to Chattelsb. [§ 3.10.9] Conversion

C. [§ 3.10.10] Web Sites1. [§ 3.10.11] Web Site Terms and Conditions of

Usea. [§ 3.10.12] In Generalb. [§ 3.10.13] Disclaimersc. [§ 3.10.14] Intellectual Property Noticesd. [§ 3.10.15] Indemnitiese. [§ 3.10.16] Limitations of Liability and

Damagesf. [§ 3.10.17] Choice of Law and Venueg. [§ 3.10.18] Terms and Conditions Checklist

2. [§ 3.10.19] Privacy Policies3. [§ 3.10.20] Americans with Disabilities Act4. [§ 3.10.21] Security

a. [§ 3.10.22] In Generalb. [§ 3.10.23] Federal Regulationc. [§ 3.10.24] State Regulation

5. [§ 3.10.25] Web Site ChecklistD. [§ 3.10.26] Advertising

1. [§ 3.10.27] In General2. [§ 3.10.28] Fraud and Misrepresentation3. [§ 3.10.29] Spyware and Pop-up Advertising4. [§ 3.10.30] Banner Advertisement and Keywords

E. [§ 3.10.31] Internet Taxes1. [§ 3.10.32] State Taxes2. [§ 3.10.33] Internet Tax Freedom Act

TABLE OF CONTENTS


F. [§ 3.10.34] Electronic Funds Transfers

III. [§ 3.10.35] Court Jurisdiction over Internet TransactionsA. [§ 3.10.36] In GeneralB. [§ 3.10.37] United States

1. [§ 3.10.38] Personal Jurisdiction2. [§ 3.10.39] Exercise of Jurisdiction in Wisconsin3. [§ 3.10.40] General Jurisdiction4. [§ 3.10.41] Specific Jurisdiction5. [§ 3.10.42] Jurisdiction Under Federal Copyright

LawC. [§ 3.10.43] International

IV. [§ 3.10.44] Enforceability of Online ContractsA. [§ 3.10.45] Clickwrap ContractsB. [§ 3.10.46] Browsewrap AgreementsC. [§ 3.10.47] Uniform Electronic Transactions ActD. [§ 3.10.48] Electronic Signatures in Global and

National Commerce ActE. [§ 3.10.49] Uniform Computer Information

Transactions Act

V. [§ 3.10.50] Intellectual PropertyA. [§ 3.10.51] Trademark Infringement

1. [§ 3.10.52] In General2. [§ 3.10.53] Metatags3. [§ 3.10.54] Linking4. [§ 3.10.55] Deep Linking5. [§ 3.10.56] Pointing6. [§ 3.10.57] URL Post-Domain Paths7. [§ 3.10.58] Trademark Dilution8. [§ 3.10.59] Overseas Application of the Lanham

Act 9. [§ 3.10.60] Fair Use

B. [§ 3.10.61] Domain Names1. [§ 3.10.62] UDRP2. [§ 3.10.63] ACPA

C. [§ 3.10.64] Copyright Infringement1. [§ 3.10.65] In General2. [§ 3.10.66] Linking3. [§ 3.10.67] Framing

TABLE OF CONTENTS


D. [§ 3.10.68] Business Method Patents

VI. [§ 3.10.69] Defamation

VII. [§ 3.10.70] PrivacyA. [§ 3.10.71] State Privacy Laws

1. [§ 3.10.72] Generally2. [§ 3.10.73] California Data Privacy Law3. [§ 3.10.74] California Online Privacy Protection

ActB. [§ 3.10.75] Federal Trade Commission

1. [§ 3.10.76] In General2. [§ 3.10.77] Federal Trade Commission Act3. [§ 3.10.78] Children’s Online Privacy Protection

Act C. [§ 3.10.79] Children’s Listbroker Privacy ActD. [§ 3.10.80] Electronic Communications Privacy Act E. [§ 3.10.81] Computer Fraud and Abuse ActF. [§ 3.10.82] Privacy Policy Checklist

Appendix10A List of Resources

CHAPTER 11DOING BUSINESS OUTSIDE THE UNITED STATESby Robert J. Misey, Jr., Catherine L. Davies & Masud Khan


II. [§ 3.11.2] Scenario One—Export Sales WithoutPresence in a Foreign Country

A. [§ 3.11.3] U.S. Tax Issues1. [§ 3.11.4] Tax Savings For Exporters

a. [§ 3.11.5] In Generalb. [§ 3.11.6] Introduction To the Interest

Charge-Domestic SalesCorporation (IC-DISC): Taxationof an IC-DISC and ItsShareholders

c. [§ 3.11.7] Tests to Qualify as an IC-DISC

TABLE OF CONTENTS


d. [§ 3.11.8] Sales of Export Property By an IC-DISC

e. [§ 3.11.9] Manufacturing Requirementf. [§ 3.11.10] Destination Requirementg. [§ 3.11.11] Minimum Requirement of 50%

U.S. Content h. [§ 3.11.12] Determining the IC-DISC Benefiti. [§ 3.11.13] Maximizing the IC-DISC Income

B. [§ 3.11.14] U.S. Business Issues1. [§ 3.11.15] Export Laws

a. [§ 3.11.16] Introductionb. [§ 3.11.17] General Prohibitionsc. [§ 3.11.18] Office of Foreign Assets Control

(OFAC)d. [§ 3.11.19] Records Retention Requirementse. [§ 3.11.20] Foreign Boycottsf. [§ 3.11.21] Penalties and Enforcementg. [§ 3.11.22] Voluntary Self-Disclosureh. [§ 3.11.23] Implementing a Compliance

System

III. [§ 3.11.24] Scenario Two—Export Sales Through anIndependent Agent in a Foreign Country

A. [§ 3.11.25] U.S. Tax Issues1. [§ 3.11.26] IC-DISC2. [§ 3.11.27] Direct Foreign Tax Credits

a. [§ 3.11.28] Introductionb. [§ 3.11.29] Creditability of Foreign Taxesc. [§ 3.11.30] Limitations on the Foreign Tax

Creditd. [§ 3.11.31] Fundamentals of the Limitation

3. [§ 3.11.32] Sourcing Issues for the Sale ofPersonal Property

a. [§ 3.11.33] Special Rule for Sale of Inventoryb. [§ 3.11.34] Special Rule for Sales Through

Offices or Fixed Places ofBusiness

c. [§ 3.11.35] Basket LimitationsB. [§ 3.11.36] U.S. Business Issues

1. [§ 3.11.37] Sales Representative Statutes inExport Destination

2. [§ 3.11.38] U.S. Export Laws

TABLE OF CONTENTS


3. [§ 3.11.39] U.S. Foreign Corrupt Practices Actand Similar Laws

a. [§ 3.11.40] Introductionb. [§ 3.11.41] Sales Representative Actionsc. [§ 3.11.42] Exceptions to the FCPAd. [§ 3.11.43] Affirmative Defensese. [§ 3.11.44] Compliance with the FCPA

IV. [§ 3.11.45] Scenario Three—Export Sales Through anEmployee in a Foreign Country

A. [§ 3.11.46] U.S. Tax Issues1. [§ 3.11.47] IC-DISC2. [§ 3.11.48] Direct Foreign Tax Credits

B. [§ 3.11.49] U.S. Business Issues1. [§ 3.11.50] U.S. Export Laws2. [§ 3.11.51] Termination Notice under Sales

Representative Statute of ExportDestination

3. [§ 3.11.52] Export Destination Employment Laws

V. [§ 3.11.53] Scenario Four—Export Sales Through aDistribution Subsidiary in a Foreign Country

A. [§ 3.11.54] U.S. Tax Issues1. [§ 3.11.55] IC-DISC2. [§ 3.11.56] Indirect Foreign Tax Credits

a. [§ 3.11.57] Generallyb. [§ 3.11.58] Mechanics of the Indirect Creditc. [§ 3.11.59] Section 78 Gross-Upd. [§ 3.11.60] Credits for a Tax in Lieu of an

Income Taxe. [§ 3.11.61] Limitations on the Foreign Tax

Credit f. [§ 3.11.62] Transfer Pricingg. [§ 3.11.63] Best Method Ruleh. [§ 3.11.64] Tangible Propertyi. [§ 3.11.65] Intangible Propertyj. [§ 3.11.66] Loansk. [§ 3.11.67] Servicesl. [§ 3.11.68] Transfer Pricing Penalties

TABLE OF CONTENTS


B. [§ 3.11.69] U.S. Business Issues1. [§ 3.11.70] Export Destination’s

Distributor/Franchise Statutes2. [§ 3.11.71] U.S. Export Laws3. [§ 3.11.72] Terms and Conditions of Sales

a. [§ 3.11.73] In Generalb. [§ 3.11.74] INCOTERMSc. [§ 3.11.75] How does WisCo use

INCOTERMS?d. [§ 3.11.76] United Nations Convention on

Contracts for the International Saleof Goods (CISG)

VI. [§ 3.11.77] Scenario Five—Foreign Sales of Productsfrom a Manufacturing Subsidiary in aForeign Country

A. [§ 3.11.78] U.S. Tax Issues1. [§ 3.11.79] Indirect Foreign Tax Credits2. [§ 3.11.80] Transfer Pricing

B. [§ 3.11.81] U.S. Business Issues1. [§ 3.11.82] Intellectual Property Protection

a. [§ 3.11.83] Patentsb. [§ 3.11.84] Trademarksc. [§ 3.11.85] Copyrights

VII. [§ 3.11.86] Scenario Six—Domestic Sales of ProductsPurchased from a Manufacturing Subsidiaryin a Foreign Country

A. [§ 3.11.87] U.S. Tax Issues1. [§ 3.11.88] Indirect Foreign Tax Credits2. [§ 3.11.89] Transfer Pricing

B. [§ 3.11.90] U.S. Business Issues1. [§ 3.11.91] U.S. Import Laws

a. [§ 3.11.92] In Generalb. [§ 3.11.93] Classificationc. [§ 3.11.94] Reasonable Care Checklistd. [§ 3.11.95] Valuatione. [§ 3.11.96] Transactions Between Related

Partiesf. [§ 3.11.97] When Transaction Value Is

Inapplicableg. [§ 3.11.98] Country of Origin

TABLE OF CONTENTS


h. [§ 3.11.99] Entry Statusi. [§ 3.11.100] Customs Rulingsj. [§ 3.11.101] Recordkeeping Requirementsk. [§ 3.11.102] Penalties and Prior Disclosure

(1) [§ 3.11.103] Civil Penalties(2) [§ 3.11.104] Criminal Penalties(3) [§ 3.11.105] Prior Disclosure

TABLE OF CASES

TABLE OF STATUTES, REGULATIONS, AND RULES

INDEX