402.310 Open time for payment or running of credit; authority to ship under reservation. - Wisconsin Statutes

402.310

402.310 Open time for payment or running of credit; authority to ship under reservation. Unless otherwise agreed:

402.310(1)

(1) Payment is due at the time and place at which the buyer is to receive the goods even though the place of shipment is the place of delivery; and

402.310(2)

(2) If the seller is authorized to send the goods the seller may ship them under reservation, and may tender the documents of title, but the buyer may inspect the goods after their arrival before payment is due unless such inspection is inconsistent with the terms of the contract (s. 402.513); and

402.310(3)

(3) If delivery is authorized and made by way of documents of title otherwise than by sub. (2) then payment is due regardless of where the goods are to be received at the time and place at which the buyer is to receive the documents; or at the time the buyer is to receive delivery of the electronic documents and at the seller's place of business or, if none, the seller's residence; and

402.310 - ANNOT.

NOTE: Sub. (3) is shown as amended eff. 8-1-10 by 2009 Wis. Act 322. Prior to 8-1-10 it reads:

402.310 - ANNOT.

(3) If delivery is authorized and made by way of documents of title otherwise than by sub. (2) then payment is due at the time and place at which the buyer is to receive the documents regardless of where the goods are to be received; and

402.310(4)

(4) Where the seller is required or authorized to ship the goods on credit the credit period runs from the time of shipment but postdating the invoice or delaying its dispatch will correspondingly delay the starting of the credit period.

402.310 - ANNOT.

History: 1991 a. 316; 2009 a. 322.