Wisconsin Statutes
Wis. Stat. § 403.418 (2026)
Payment or acceptance by mistake
✓ current as of July 2026
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403.418(1)(1) Except as provided in sub. (3), if the drawee of a draft pays or accepts the draft and the drawee acted on the mistaken belief that payment of the draft had not been stopped pursuant to s. 404.403 or that the signature of the drawer of the draft was authorized, the drawee may recover the amount of the draft from the person to whom or for whose benefit payment was made or, in the case of acceptance, may revoke the acceptance. Rights of the drawee under this subsection are not affected by failure of the drawee to exercise ordinary care in paying or accepting the draft.
403.418(2)(2) Except as provided in sub. (3), if an instrument has been paid or accepted by mistake and the case is not covered by sub. (1), the person paying or accepting may, to the extent permitted by the law governing mistake and restitution, recover the payment from the person to whom or for whose benefit payment was made or, in the case of acceptance, may revoke the acceptance.
403.418(3)(3) The remedies provided by sub. (1) or (2) may not be asserted against a person who took the instrument in good faith and for value or who in good faith changed position in reliance on the payment or acceptance. This subsection does not limit remedies provided by s. 403.417 or 404.407.
403.418(4)(4) Notwithstanding s. 404.215, if an instrument is paid or accepted by mistake and the payer or acceptor recovers payment or revokes acceptance under sub. (1) or (2), the instrument is considered not to have been paid or accepted and is treated as dishonored, and the person from whom payment is recovered has rights as a person entitled to enforce the dishonored instrument.
Notes of Decisions
Cited in 6
cases (2 in the last 5 years), 1979–2024 · leading case: Bank of N.Y. Mellon v. Klomsten, 911 N.W.2d 364 (Wis. Ct. App. 2018).
Bank of N.Y. Mellon v. Klomsten, 911 N.W.2d 364 (Wis. Ct. App. 2018). “309 (lost, destroyed or stolen instruments) and Wis. Stat. § 403.418 (4) (payment or acceptance by mistake).”
Nw. Nat'l Ins. Co. of Milwaukee v. Midland Nat'l Bank, 292 N.W.2d 591 (Wis. 1980). “Under sec. 403.418, Stats., it is argued that Northwestern therefore is not entitled to recover.”
Winkie, Inc. v. Heritage Bank of Whitefish Bay, 285 N.W.2d 899 (Wis. 1979). “6 Sec. 403.418, Stats. 7 Sec. 404.406(3), Stats.”
Bank of N.Y. Mellon v. Bronson, 921 N.W.2d 17 (Wis. Ct. App. 2018). “309 (lost, destroyed or stolen instruments) and Wis. Stat. § 403.418 (4) (payment or acceptance by mistake).”
Oconto Falls Tissue, Inc. v. ST Paper, LLC (Wis. Ct. App. 2023). “309(1) provides that a person who is not in possession of an instrument may nevertheless enforce that instrument if all of the following apply: (a) The person was in possession of the instrument and entitled to enforce it when loss of possession occurred.”
Lakeview Loan Servicing, LLC v. Jeremy M. Bastin (Wis. Ct. App. 2024). “” We understand them to be arguing that Lakeview fails to establish that it is the proper plaintiff, and we address their arguments in that context.”
— Wis. Stat. § 403.418(4) — 2 cases
Oconto Falls Tissue, Inc. v. ST Paper, LLC (Wis. Ct. App. 2023). “309(1) provides that a person who is not in possession of an instrument may nevertheless enforce that instrument if all of the following apply: (a) The person was in possession of the instrument and entitled to enforce it when loss of possession occurred.”
Lakeview Loan Servicing, LLC v. Jeremy M. Bastin (Wis. Ct. App. 2024). “” We understand them to be arguing that Lakeview fails to establish that it is the proper plaintiff, and we address their arguments in that context.”
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