Sec. 45.07.403. Obligation of bailee to deliver; excuse.
(a) A bailee shall deliver the goods to a person entitled under a document of title if the person complies with (b) and (c) of this section, unless and to the extent that the bailee establishes any of the following: (1) delivery of the goods to a person whose receipt was rightful as against the […]
Sec. 45.07.404. No liability for good faith delivery under document of title.
A bailee who, in good faith, has received goods and delivered or otherwise disposed of the goods according to the terms of a document of title or under this chapter is not liable for the goods even if the person (1) from whom the bailee received the goods did not have authority to procure the […]
Sec. 45.07.501. Form of negotiation and requirements of due negotiation.
(a) The following rules apply to a negotiable tangible document of title: (1) if the document’s original terms run to the order of a named person, the document is negotiated by the named person’s endorsement and delivery; after the named person’s endorsement in blank or to bearer, a person may negotiate the document by delivery […]
Sec. 45.07.502. Rights acquired by due negotiation.
(a) Subject to AS 45.07.205 and 45.07.503, a holder to whom a negotiable document of title has been duly negotiated acquires by the due negotiation (1) title to the document; (2) title to the goods; (3) all rights accruing under the law of agency or estoppel, including rights to goods delivered to the bailee after […]
Sec. 45.07.503. Document of title to goods defeated in certain cases.
(a) A document of title confers no right in goods against a person who, before issuance of the document, had a legal interest or a perfected security interest in the goods and who did not (1) deliver or entrust the goods or a document of title covering the goods to the bailor or the bailor’s […]
Sec. 45.07.504. Rights acquired in absence of due negotiation; effect of diversion; stoppage of delivery.
(a) A transferee of a document of title, whether negotiable or nonnegotiable, to whom the document has been delivered but not duly negotiated, acquires the title and rights that the transferor had or had actual authority to convey. (b) In the case of a transfer of a nonnegotiable document of title, until, but not after, […]
Sec. 45.07.505. Endorser not guarantor for other parties.
The endorsement of a tangible document of title issued by a bailee does not make the endorser liable for a default by the bailee or previous endorsers.
Sec. 45.07.506. Delivery without endorsement; right to compel endorsement.
The transferee of a negotiable tangible document of title has a specifically enforceable right to have its transferor supply a necessary endorsement, but the transfer becomes a negotiation only as of the time the endorsement is supplied.
Sec. 45.07.304. Tangible bills of lading in a set.
(a) Except as customary in international transportation, a tangible bill of lading may not be issued in a set of parts. The issuer is liable for damages caused by violation of this subsection. (b) If a tangible bill of lading is lawfully issued in a set of parts, each of which contains an identification code […]
Sec. 45.07.507. Warranties on negotiation or delivery of document of title.
If a person negotiates or delivers a document of title for value, other than as a mere intermediary under AS 45.07.508, unless otherwise agreed, the transferor, in addition to any warranty made in selling or leasing the goods, warrants to its immediate purchaser only that (1) the document is genuine; (2) the transferor does not […]