Wisconsin § 411.407 - Irrevocable promises: finance leases.
Full text of Wisconsin Wisconsin Statutes § 411.407 — Irrevocable promises: finance leases., with citation guidance and answers to common questions.
§ 411.407. Irrevocable promises: finance leases.
411.407(1) (1) In the case of a finance lease that is not a consumer lease, the lessee’s promises under the lease contract become irrevocable and independent upon the lessee’s acceptance of the goods. 411.407(2) (2) A promise that becomes irrevocable and independent under sub. (1) is effective and enforceable between the parties, and by or against 3rd parties including assignees of the parties, and is not subject to cancellation, termination, modification, repudiation, excuse or substitution without the consent of the party to whom the promise runs. 411.407(3) (3) This section does not affect the validity under any other law of a covenant in a lease contract making the lessee’s promises irrevocable and independent upon the lessee’s acceptance of the goods. 411.407 History History: 1991 a. 148 . 411.407 Annotation Brothers at Arm’s Length: U.C.C. Article 2A, Captive Finance Companies, and the Close-Connection Doctrine. Smith. 1999 WLR 1051. subch. V of ch. 411 SUBCHAPTER V DEFAULT
Source: official Wisconsin text · Last verified 2026-08-27
Frequently Asked Questions About Wisconsin § 411.407
What does Wisconsin Statutes § 411.407 cover?
Section 411.407 ("Irrevocable promises: finance leases.") is part of the Wisconsin Statutes, the codified statutory law of Wisconsin. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Wisconsin § 411.407?
A common citation format is "Wisconsin Statutes § 411.407" (Wisconsin). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Wisconsin law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Wisconsin official source linked on this page or consult a licensed Wisconsin attorney.
How does Wisconsin § 411.407 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Wisconsin can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Wisconsin.