The obligations imposed by this chapter on an issuer apply to a document of title even if

(1) the document does not comply with the requirements of this chapter or another statute, a regulation, or another rule of law regarding its issuance, form, or content;

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.

Terms Used In Alaska Statutes 45.07.401

  • bailee: means a person who, by a warehouse receipt, bill of lading, or other document of title, acknowledges possession of goods and contracts to deliver them. See Alaska Statutes 45.07.112
  • goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Alaska Statutes 45.07.112
  • issuer: includes a person for whom an agent or employee purports to act in issuing a document if the agent or employee has real or apparent authority to issue documents, even if the issuer did not receive the goods, the goods were misdescribed, or in another respect the agent or employee violated the issuer's instructions. See Alaska Statutes 45.07.112
  • person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
  • Statute: A law passed by a legislature.
  • warehouse: means a person engaged in the business of storing goods for hire. See Alaska Statutes 45.07.112
(2) the issuer violated laws regulating the conduct of the issuer’s business;
(3) the goods covered by the document were owned by the bailee when the document was issued; or
(4) the person issuing the document is not a warehouse but the document purports to be a warehouse receipt.