1993 Alaska Statutes
TITLE 45 TRADE AND COMMERCE
Chapter 45.07 WAREHOUSE RECEIPTS, BILLS OF LADING, AND OTHER DOCUMENTS OF TITLE
Section 45.07.507 WARRANTIES ON NEGOTIATION OR TRANSFER OF RECEIPT OR BILL.
If a person negotiates or transfers a document of title for value otherwise than as a mere intermediary under AS 45.07.508 , then, unless otherwise agreed, the person warrants to the immediate purchaser only in addition to any warranty made in selling the goods
(1) that the document is genuine;
(2) that the person has no knowledge of a fact which would impair its validity or worth; and
(3) that the negotiation or transfer is rightful and fully effective with respect to the title to the document and the goods it represents.
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