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KRAENZLER v. BRACE

No. 2008AP1709.

773 N.W.2d 481 (2009)

2009 WI App 131

Werner KRAENZLER and Michael Newville, Plaintiffs-Appellants, v. Robert BRACE and Lynn Brace, Defendants-Respondents.

Court of Appeals of Wisconsin.

Opinion Filed August 5, 2009.

Attorney(s) appearing for the Case

On behalf of the plaintiffs-appellants, the cause was submitted on the briefs of Mark S. Schmitt of Maynard Schmitt & Associates, LLP of Cedarburg.

On behalf of the defendants-respondents, the cause was submitted on the brief of K. Scott Wagner, Jacques C. Condon and Blake S. Olson of Hale & Wagner, S.C., of Milwaukee.

Before BROWN, C.J., ANDERSON and SNYDER, JJ.

¶ 1 BROWN, C.J.

This is a Uniform Commercial Code (U.C.C.) case. More specifically, this case is about whether parties may completely opt out of the U.C.C. when drafting contract terms in a security agreement or if some provisions in the U.C.C. are unwaivable. Robert and Lynn Brace (Brace) loaned Werner Kraenzler and Michael Newville (Kraenzler) money to fund a business venture. The terms of the loan were written in a security agreement between Brace and Kraenzler...

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