GroundRules
AS 45.07.507: Warranties on negotiation or delivery of document of title.
Where this section sits in the code
- Title 45. Trade and Commerce.
- Chapter 07. Warehouse Receipts, Bills of Lading, and Other Documents of Title.
- Article 5. Warehouse Receipts and Bills of Lading: Negotiation and Transfer.
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 have knowledge of a fact that would impair the document's validity or worth; and
(3) the negotiation or delivery is rightful and fully effective with respect to the title to the document and the goods it represents.
Collected 2026-09-02T06:19:44Z. Source file · JSON