Wisconsin Statutes

Wis. Stat. § 403.109 (2026)

Payable to bearer or to order

✓ current as of July 2026

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403.109403.109 Payable to bearer or to order.

403.109(1)(1) A promise or order is payable to bearer if any of the following applies:

403.109(1)(a)(a) It states that it is payable to bearer or to the order of bearer or otherwise indicates that the person in possession of the promise or order is entitled to payment.

403.109(1)(b)(b) It does not state a payee.

403.109(1)(c)(c) It states that it is payable to or to the order of cash or otherwise indicates that it is not payable to an identified person.

403.109(2)(2) A promise or order that is not payable to bearer is payable to order if it is payable to the order of an identified person or to an identified person or order. A promise or order that is payable to order is payable to the identified person.

403.109(3)(3) An instrument payable to bearer may become payable to an identified person if it is specially endorsed under s. 403.205 (1). An instrument payable to an identified person may become payable to bearer if it is endorsed in blank under s. 403.205 (2).

403.109 HistoryHistory: 1995 a. 449.

Notes of Decisions

Cited in 3 cases (1 in the last 5 years), 1985–2025 · leading case: In Re Est. of Balkus v. Sec. First Nat'l Bank of Sheboygan Trust Dep't, 381 N.W.2d 593 (Wis. Ct. App. 1985).

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In Re Est. of Balkus v. Sec. First Nat'l Bank of Sheboygan Trust Dep't, 381 N.W.2d 593 (Wis. Ct. App. 1985). · cites it 2× “Section 403.109(2), Stats., states that an instrument which is "payable only upon an act or event uncertain as to time of occurrence is not payable at a definite time.”

Schmid v. Bank of Am., N.A. (In re Schmid), 494 B.R. 737 (Bankr. W.D. Wis. 2013). · cites it 2× “Under Wis. Stat. § 403.109 (3), an instrument payable to an identified person becomes payable to the bearer if it is endorsed in blank.”

Cerny v. Old Nat'l Bank (Bankr. W.D. Wis. 2025). · cites it 2× “Under Wis. Stat. § 403.109 (3), an instrument payable to an identified person becomes payable to the bearer if it is endorsed in blank under Wis.”

— Wis. Stat. § 403.109(2) — 1 case

In Re Est. of Balkus v. Sec. First Nat'l Bank of Sheboygan Trust Dep't, 381 N.W.2d 593 (Wis. Ct. App. 1985). “Section 403.109(2), Stats., states that an instrument which is "payable only upon an act or event uncertain as to time of occurrence is not payable at a definite time.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.