Alaska Statutes 45.12.512 – Lessee’s duties as to rightfully rejected goods

(a) Except as otherwise provided under Alaska Stat. § 45.12.511, with respect to goods that threaten to decline in value speedily and subject to a security interest of a lessee under Alaska Stat. § 45.12.508(e),

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Terms Used In Alaska Statutes 45.12.512

action: includes any matter or proceeding in a court, civil or criminal. See Alaska Statutes 01.10.060
goods: means all things that are movable at the time of identification to the lease contract, or are fixtures under Alaska Stat. See Alaska Statutes 45.12.103
lessee: means a person who acquires the right to possession and use of goods under a lease. See Alaska Statutes 45.12.103
lessor: means a person who transfers the right to possession and use of goods under a lease. See Alaska Statutes 45.12.103
supplier: means a person from whom a lessor buys or leases goods to be leased under a finance lease. See Alaska Statutes 45.12.103

(1) the lessee, after rejection of goods in the lessee’s possession, shall hold them with reasonable care at the lessor‘s or the supplier‘s disposition for a reasonable time after the lessee’s seasonable notification of rejection;

(2) if the lessor or the supplier does not give instructions within a reasonable time after notification of rejection, the lessee may store the rejected goods for the lessor’s or the supplier’s account or ship them to the lessor or the supplier or dispose of them for the lessor’s or the supplier’s account with reimbursement in the manner provided in Alaska Stat. § 45.12.511; but

(3) the lessee does not have further obligations with regard to goods rightfully rejected.

(b) Action by the lessee under (a) of this section is not acceptance or conversion.

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