{"data":{"id":"us-wi/wis.-stat.-404.504","jurisdiction":"us-wi","citation":"Wis. Stat. § 404.504","heading":"Privilege of presenting bank to deal with goods; security interest for expenses.","body":"(1) A presenting bank that, following the dishonor of a documentary draft, has seasonably requested instructions but does not receive them within a reasonable time may store, sell, or otherwise deal with the goods in any reasonable manner.\n(2) For its reasonable expenses incurred by action under sub. (1), the presenting bank has a lien upon the goods or their proceeds, which may be foreclosed in the same manner as an unpaid seller’s lien.","path":["Chs. 401-411, Uniform Commercial Code","Chapter 404 Uniform Commercial Code — Bank Deposits And Collections","SUBCHAPTER V COLLECTION OF DOCUMENTARY DRAFTS"],"source_url":"https://docs.legis.wisconsin.gov/document/statutes/404.504","current_through":"2023-24 Wisconsin Statutes updated through 2025 Wis. Act 247 (published 9-4-26)","vintage":"","retrieved_at":"2026-09-05T12:01:22Z","sha256":"6a9dede300cc22bf126bdecb7da2c64f4dad927759c17596ad67aac305ba1520","source_id":"us-wi","stale":false,"prev":"us-wi/wis.-stat.-404.503","next":"us-wi/wis.-stat.-405.101"},"notice":"GroundRules: Original legal text. Not legal advice."}