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Code · Wisconsin · Chapter 404 — Uniform commercial code — bank deposits and collections

404.203 Effect of instructions.

63 words·~1 min read·/wi/chapter-404/404-203

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404.203 Effect of instructions. Subject to s. 403.420 concerning conversion of instruments and to s. 403.206 concerning restrictive endorsements, only a collecting bank’s transferor can give instructions that affect the bank or constitute notice to it and a collecting bank is not liable to prior parties for any action taken pursuant to the instructions or in accordance with any agreement with its transferor.
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