If a person negotiates or delivers a document of title for value, other than as a mere intermediary under Alaska Stat. § 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;

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Terms Used In Alaska Statutes 45.07.507

  • 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
  • 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
(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.