(a) A document of title confers no right in goods against a person who, before issuance of the document, had a legal interest or a perfected security interest in the goods and who did not

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Terms Used In Alaska Statutes 45.07.503

  • carrier: means a person who issues a bill of lading. See Alaska Statutes 45.07.112
  • delivery order: means a record that contains an order to deliver goods directed to a warehouse, carrier, or other person who, in the ordinary course of business, issues warehouse receipts or bills of lading. 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
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • 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
(1) deliver or entrust the goods or a document of title covering the goods to the bailor or the bailor’s nominee with

(A) actual or apparent authority to ship, store, or sell;
(B) power to obtain delivery under Alaska Stat. § 45.07.403; or
(C) power of disposition under Alaska Stat. § 45.02.403, Alaska Stat. § 45.12.304(b), 45.12.305(b), Alaska Stat. § 45.29.320, 45.29.321(c) or other statute or rule of law; or
(2) acquiesce in the procurement by the bailor or its nominee of a document.
(b) Title to goods based upon an unaccepted delivery order is subject to the rights of a person to whom a negotiable warehouse receipt or bill of lading covering the goods has been duly negotiated. That title may be defeated under Alaska Stat. § 45.07.504 to the same extent as the rights of the issuer or a transferee from the issuer.
(c) Title to goods based upon a bill of lading issued to a freight forwarder is subject to the rights of a person to whom a bill issued by the freight forwarder is duly negotiated. However, delivery by the carrier in accordance with Alaska Stat. § 45.07.401 – 45.07.404 under its own bill of lading discharges the carrier’s obligation to deliver.
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