§ 410.401 Payment date
§ 410.402 Obligation of sender to pay receiving bank
§ 410.403 Payment by sender to receiving bank
§ 410.404 Obligation of beneficiary’s bank to pay and give notice to beneficiary
§ 410.405 Payment by beneficiary’s bank to beneficiary
§ 410.406 Payment by originator to beneficiary; discharge of underlying obligation

Terms Used In Wisconsin Statutes > Chapter 410 > Subchapter IV - Payment

  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Following: when used by way of reference to any statute section, means the section next following that in which the reference is made. See Wisconsin Statutes 990.01
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: includes all partnerships, associations and bodies politic or corporate. See Wisconsin Statutes 990.01
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.