Alaska Statutes
Title 45. Trade and Commerce
Chapter 12. Leases

Sec. 45.12.105. Territorial application of article to goods covered by certificate of title. - Subject to the provisions of AS 45.12.304(c) and 45.12.305(c), with...

Sec. 45.12.106. Limitation on power of parties to consumer lease to choose applicable law and judicial forum. - (a) If the law chosen by the parties to a...

Sec. 45.12.107. Waiver or renunciation of claim or right after default or breach. - A claim or right arising out of an alleged default...

Sec. 45.12.108. Unconscionability. - (a) If the court as a matter of law finds...

Sec. 45.12.109. Option to accelerate at will. - (a) A term providing that one party or the party's...

Article 2. Formation and Construction of Lease Contract.

Sec. 45.12.201. Statute of frauds. - (a) A lease contract is not enforceable by way of...

Sec. 45.12.202. Final written expression: parol or extrinsic evidence. - Terms with respect to which the confirmatory memoranda of the...

Sec. 45.12.203. Seals inoperative. - The affixing of a seal to a writing evidencing a...

Sec. 45.12.204. Formation in general. - (a) A lease contract may be made in any manner...

Sec. 45.12.205. Firm offers. - An offer by a merchant to lease goods to or...

Sec. 45.12.206. Offer and acceptance in formation of lease contract. - (a) Unless otherwise unambiguously indicated by the language or circumstances,...

Sec. 45.12.208. Modification, rescission, and waiver. - (a) An agreement modifying a lease contract does not need...

Sec. 45.12.209. Lessee under finance lease as beneficiary of supply contract. - (a) The benefit of a supplier's promises to the lessor...

Sec. 45.12.210. Express warranties. - (a) Express warranties by the lessor are created as follows:...

Sec. 45.12.211. Warranties against interference and against infringement; lessee's obligation against infringement. - (a) There is in a lease contract a warranty that...

Sec. 45.12.212. Implied warranty of merchantability. - (a) Except in a finance lease, a warranty that the...

Sec. 45.12.213. Implied warranty of fitness for particular purpose. - Except in a finance lease, if the lessor at the...

Sec. 45.12.214. Exclusion or modification of warranties. - (a) Words or conduct relevant to the creation of an...

Sec. 45.12.215. Cumulation and conflict of warranties express or implied. - Warranties, whether express or implied, shall be construed as consistent...

Sec. 45.12.216. Third-party beneficiaries of express and implied warranties. - A warranty to or for the benefit of a lessee...

Sec. 45.12.217. Identification. - Identification of goods as goods to which a lease contract...

Sec. 45.12.218. Insurance and proceeds. - (a) A lessee obtains an insurable interest when existing goods...

Sec. 45.12.219. Risk of loss. - (a) Except in the case of a finance lease, risk...

Sec. 45.12.220. Effect of default on risk of loss. - (a) Where risk of loss is to pass to the...

Sec. 45.12.221. Casualty to identified goods. - If a lease contract requires goods identified when the lease...

Article 3. Effect of Lease Contract.

Sec. 45.12.301. Enforceability of lease contract. - Except as otherwise provided in this chapter, a lease contract...

Sec. 45.12.302. Title to and possession of goods. - Except as otherwise provided in this chapter, each provision of...

Sec. 45.12.303. Alienability of party's interest under lease contract or of lessor's residual interest in goods; delegation of performance; transfer of rights. - (a) Except as provided in (d) of this section and...

Sec. 45.12.304. Subsequent lease of goods by lessor. - (a) Subject to AS 45.12.303, a subsequent lessee from a...

Sec. 45.12.305. Sale or sublease of goods by lessee. - (a) Subject to the provisions of AS 45.12.303, a buyer...

Sec. 45.12.306. Priority of certain liens arising by operation of law. - If a person in the ordinary course of the person's...

Sec. 45.12.307. Priority of liens arising by attachment or levy on, security interests in, and other claims to goods. - (a) Except as otherwise provided in AS 45.12.306, a creditor...

Sec. 45.12.308. Special rights of creditors. - (a) A creditor of a lessor in possession of goods...

Sec. 45.12.309. Lessor's and lessee's rights when goods become fixtures. - (a) Under this chapter a lease may be of goods...

Sec. 45.12.310. Lessor's and lessee's rights when goods become accessions. - (a) “Accessions” means goods when they are installed in or...

Sec. 45.12.311. Priority subject to subordination. - Nothing in this chapter prevents subordination by agreement by a...

Article 4. Performance of Lease Contract.

Sec. 45.12.401. Insecurity: adequate assurance of performance. - (a) A lease contract imposes an obligation on each party...

Sec. 45.12.402. Anticipatory repudiation. - (a) If either party repudiates a lease contract with respect...

Sec. 45.12.403. Retraction of anticipatory repudiation. - (a) Until the repudiating party's next performance is due, the...

Sec. 45.12.404. Substituted performance. - (a) If without fault of the lessee, the lessor, and...

Sec. 45.12.405. Excused performance. - Subject to AS 45.12.404 on substituted performance, the following rules...

Sec. 45.12.406. Procedure on excused performance. - (a) If the lessee receives notification of a material or...

Sec. 45.12.407. Irrevocable promises: finance leases. - (a) In the case of a finance lease that is...

Article 5. Default.

Sec. 45.12.501. Default: procedure. - (a) Whether the lessor or the lessee is in default...

Sec. 45.12.502. Notice after default. - Except as otherwise provided in this chapter or the lease...

Sec. 45.12.503. Modification or impairment of rights and remedies. - (a) Except as otherwise provided in this chapter, the lease...

Sec. 45.12.504. Liquidation of damages. - (a) Damages payable by either party for default, or another...

Sec. 45.12.505. Cancellation and termination, and effect of cancellation, termination, rescission, or fraud on rights and remedies. - (a) On cancellation of the lease contract, all obligations that...

Sec. 45.12.506. Statute of limitations. - (a) An action for default under a lease contract, including...

Sec. 45.12.507. Proof of market rent: time and place. - (a) Damages based on market rent under AS 45.12.519 or...

Sec. 45.12.508. Lessee's remedies. - (a) If a lessor fails to deliver the goods in...

Sec. 45.12.509. Lessee's rights on improper delivery; rightful rejection. - (a) Subject to the provisions of AS 45.12.510 on default...

Sec. 45.12.510. Installment lease contracts: rejection and default. - (a) Under an installment lease contract a lessee may reject...

Sec. 45.12.511. Merchant lessee's duties as to rightfully rejected goods. - (a) Subject to a security interest of a lessee under...

Sec. 45.12.512. Lessee's duties as to rightfully rejected goods. - (a) Except as otherwise provided under AS 45.12.511, with respect...

Sec. 45.12.513. Cure by lessor of improper tender or delivery; replacement. - (a) If a tender or delivery by the lessor or...

Sec. 45.12.514. Waiver of lessee's objections. - (a) In rejecting goods, a lessee's failure to state a...

Sec. 45.12.515. Acceptance of goods. - (a) Acceptance of goods occurs after the lessee has had...

Sec. 45.12.516. Effect of acceptance of goods; notice of default; burden of establishing default after acceptance; notice of claim or litigation to person answerable over. - (a) A lessee must pay rent for goods accepted in...

Sec. 45.12.517. Revocation of acceptance of goods. - (a) A lessee may revoke acceptance of a lot or...

Sec. 45.12.518. Cover; substitute goods. - (a) After a default, by a lessor under the lease...

Sec. 45.12.519. Lessee's damages for nondelivery, repudiation, default, and breach of warranty in regard to accepted goods. - (a) Except as otherwise provided under AS 45.12.504 with respect...

Sec. 45.12.520. Lessee's incidental and consequential damages. - (a) Incidental damages resulting from a lessor's default include expenses...

Sec. 45.12.521. Lessee's right to specific performance or replevin. - (a) Specific performance may be decreed if the goods are...

Sec. 45.12.522. Lessee's right to goods on lessor's insolvency. - (a) Subject to (b) of this section and even though...

Sec. 45.12.523. Lessor's remedies. - (a) If a lessee wrongfully rejects or revokes acceptance of...

Sec. 45.12.524. Lessor's right to identify goods to lease contract. - (a) After default, by the lessee under the lease contract,...

Sec. 45.12.525. Lessor's right to possession of goods. - (a) If a lessor discovers the lessee to be insolvent,...

Sec. 45.12.526. Lessor's stoppage of delivery in transit or otherwise. - (a) A lessor may stop delivery of goods in the...

Sec. 45.12.527. Lessor's rights to dispose of goods. - (a) After a default, by a lessee under the lease...

Sec. 45.12.528. Lessor's damages for nonacceptance, failure to pay, repudiation, or other default. - (a) Except as otherwise provided with respect to damages liquidated...

Sec. 45.12.529. Lessor's action for the rent. - (a) After default, by the lessee under the lease contract,...

Sec. 45.12.530. Lessor's incidental damages. - Incidental damages to an aggrieved lessor include commercially reasonable charges,...

Sec. 45.12.531. Standing to sue third parties for injury to goods. - (a) If a third party so deals with goods that...

Sec. 45.12.532. Lessor's rights regarding residual interest. - In addition to any other recovery permitted by this chapter...

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Alaska Statutes Title 45. Trade and Commerce Chapter 12. Leases

Alaska Statutes
Title 45. Trade and Commerce
Chapter 12. Leases