Sec. 45.12.101. Short title.
This chapter may be cited as the Uniform Commercial Code – Leases.
Sec. 45.12.102. Scope.
This chapter applies to any transaction, regardless of form, that creates a lease.
Sec. 45.12.103. Definitions and index of definitions.
(a) In this chapter, unless the context otherwise requires, (1) “buyer in ordinary course of business” means a person who, in good faith and without knowledge that the sale to that person is in violation of the ownership rights or security interest or leasehold interest of a third party in the goods, buys in ordinary […]
Sec. 45.12.104. Leases subject to other law.
(a) A lease, although subject to this chapter, is also subject to an applicable (1) certificate of title statute of this state, including AS 28.10.201; (2) certificate of title statute of another jurisdiction as provided in AS 45.12.105; (3) consumer protection statute of this state, or final consumer protection decision of a court of this […]
Sec. 45.12.105. Territorial application of article to goods covered by certificate of title.
Subject to the provisions of AS 45.12.304(c) and 45.12.305(c), with respect to goods covered by a certificate of title issued under a statute of this state or of another jurisdiction, compliance and the effect of compliance or noncompliance with a certificate of title statute are governed by the law, including the conflict of laws rules, […]
Sec. 45.12.106. Limitation on power of parties to consumer lease to choose applicable law and judicial forum.
(a) If the law chosen by the parties to a consumer lease is that of a jurisdiction other than a jurisdiction in which the lessee resides at the time the lease agreement becomes enforceable or within 30 days after that date or in which the goods are to be used, the choice is not enforceable. […]
Sec. 45.12.107. Waiver or renunciation of claim or right after default or breach.
A claim or right arising out of an alleged default or breach of warranty may be discharged in whole or in part without consideration by a written waiver or renunciation signed and delivered by the aggrieved party.
Sec. 45.12.108. Unconscionability.
(a) If the court as a matter of law finds a lease contract or a clause of a lease contract to have been unconscionable at the time it was made, the court may refuse to enforce the lease contract, or it may enforce the remainder of the lease contract without the unconscionable clause, or it […]
Sec. 45.12.109. Option to accelerate at will.
(a) A term providing that one party or the party’s successor in interest may accelerate payment or performance or require collateral or additional collateral “at will” or “when the party considers itself insecure,” or in words of similar import, shall be construed to mean that the party has power to do so only if the […]