Sec. 45.07.507. Warranties on negotiation or delivery of document of title.

104 words·~1 min read·/ak/title-45/chapter-7/45-07-507

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

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.