(a) Unless otherwise agreed, if delivered goods may be returned by the buyer even though they conform to the contract, the transaction is

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Terms Used In Alaska Statutes 45.02.326

  • buyer: means a person who buys or contracts to buy goods. See Alaska Statutes 45.02.103
  • Contract: A legal written agreement that becomes binding when signed.
  • Contract for sale: includes both a present sale of goods and a contract to sell goods at a future time. See Alaska Statutes 45.02.106
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • 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.
(1) a “sale on approval” if the goods are delivered primarily for use; and
(2) a “sale or return” if the goods are delivered primarily for resale.
(b) Goods held on approval are not subject to the claims of the buyer’s creditors until acceptance; goods held on sale or return are subject to such claims while in the buyer’s possession.
(c) An “or return” term of a contract for sale is to be treated as a separate contract for sale within the statute of frauds section (Alaska Stat. § 45.02.201), and as contradicting the sale aspect of the contract within the provisions on parol or extrinsic evidence (Alaska Stat. § 45.02.202).
(d) Whenever an artist delivers or causes to be delivered a work of fine art of the artist’s creation to an art dealer for the purpose of sale, or exhibition and sale to the public on a commission or fee or other basis of compensation, the work of fine art is not subject to the claims of the art dealer’s creditors. For the purposes of this subsection,

(1) “art dealer” means a person other than a public auctioneer engaged in the business of selling works of fine art;
(2) “artist” means the creator of a work of fine art;
(3) “fine art” includes a painting, sculpture, drawing, photograph, or work of graphic art.
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