Title 45 — Trade and Commerce
49 chapters · 1,288 sections in this title.
AS 45.10.010 The contract document.
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(a) A retail installment contract must be contained in a single document. The document must contain the entire agreement of the parties including promissory notes and other evidences of indebtedness between the parties relating to the transaction, except as provided in AS 45.10.0…
AS 45.10.020 Buyer's copy.
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The retail seller shall deliver to the retail buyer, or mail to the buyer at the address shown on the retail installment contract, a copy of the contract as accepted by the seller. Until the seller does so, the buyer is obligated to pay only the cash sale price. An acknowledgment…
AS 45.10.030 Contents of contract.
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(a) The retail installment contract must contain the names of the seller and the buyer, the place of business of the seller, the residence or other address of the buyer as named by the buyer, and a description or identification of the goods sold or to be sold or services furnishe…
AS 45.10.040 Other documents.
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(a) A retail installment contract may be contained in more than one document, if one is an original document signed by the retail buyer stated to be applicable to purchase of goods or services to be made by the retail buyer from time to time. In this case the document, together w…
AS 45.10.050 Catalog or printed solicitation.
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(a) A retail installment contract, or retail charge agreement, negotiated and entered into by mail or telephone without personal solicitation by a salesman or representative of the seller and based upon a catalog of the seller or other printed solicitation of business, if the cat…
AS 45.10.060 Signing of incomplete contracts.
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The seller may not obtain the signature of the buyer to a contract if it contains blank spaces of items that are essential provisions of the transaction, except as provided in AS 45.10.050. However, if delivery of the goods is not made at the time of the execution of the contract…
AS 45.10.070 Prepayment.
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(a) A retail installment contract must contain a statement that the buyer may pay the total unpaid balance on the contract at any time. A buyer who prepays in full the unpaid balance at any time before its final due date shall, if the contract is not in default more than two mont…
AS 45.10.080 Delinquency, collection, and other charges; other contract provisions.
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(a) If authority to do so is contained in the contract or agreement, the holder of a retail installment contract or retail charge agreement may collect any delinquency, collection or dishonored check charges, attorney fees, court costs, and disbursements. In this case, the charge…
AS 45.10.090 Receipts and requests for statements.
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(a) A buyer shall be given a written receipt for any payment when made in cash. (b) Upon written request of the buyer, the holder of a retail installment contract shall give or forward to the buyer a written statement of the dates and amounts of payments and the total amount unpa…
AS 45.10.100 Consolidation of contracts.
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(a) If, in a retail installment transaction, a retail buyer makes a purchase of goods or services from a retail seller from whom the buyer has previously purchased goods or services under a retail installment contract, and the amount under the previous contract has not been fully…
AS 45.10.110 Notice of service charge and monthly statement.
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(a) At or before the time a retail charge agreement is made, the seller shall advise the buyer in writing on the application form or otherwise, or orally that a service charge will be computed on the outstanding balance for each month, which need not be a calendar month, or other…
AS 45.10.120 Extent of service charge.
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(a) Notwithstanding any other law, the service charge included in a retail installment contract, retail charge agreement, revolving charge agreement, or other retail charge agreement must be at the rate agreed upon by the retail seller and the buyer. (b) This section does not lim…
AS 45.10.130 Insurance.
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If the cost of insurance is included in the retail installment contract or retail charge agreement and a separate charge is made to the buyer for the insurance, (1) the contract or agreement must state the nature, purpose, and amount of the insurance, and in connection with the s…
AS 45.10.140 Agreement not to assert claim or defense.
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A provision of a retail installment contract or retail charge agreement by which the buyer agrees not to assert a claim or defense arising out of the sale against the seller or an assignee is invalid.
AS 45.10.150 Nonwaiver of chapter.
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No act or agreement of the retail buyer before or at the time of the making of a retail installment contract, retail charge agreement, or purchases under the contract or agreement constitutes a valid waiver of any of the provisions of this chapter or of any remedies granted to th…
AS 45.10.160 Contracts and agreements executed before 1963.
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This chapter does not invalidate or make unlawful a retail installment contract or retail charge agreement executed before January 1, 1963.
AS 45.10.170 Action by attorney general.
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The attorney general may bring an action in the name of the state against a person to restrain and prevent a violation of this chapter.
AS 45.10.180 Assurance of discontinuance.
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(a) In the enforcement of this chapter, the attorney general may accept an assurance of discontinuance of an act or practice considered in violation of this chapter from a person engaging in or who has engaged in the act or practice. The assurance shall be in writing and be filed…
AS 45.10.190 Barring recovery for noncompliance.
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A seller who enters into a contract or agreement that does not comply with the provisions of this chapter or who violates a provision of this chapter except as a result of an accident or bona fide error may not recover a service charge, official fee, or a delinquency or collectio…
AS 45.10.200 Penalty for violation of order or injunction.
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A person who violates an order or injunction issued under this chapter is punishable by a fine of not more than $1,000, or by imprisonment for not more than six months, or by both.
AS 45.10.210 Penalty for violation of chapter.
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A person who wilfully and intentionally violates a provision of this chapter is guilty of a misdemeanor and, upon conviction, is punishable by a fine of not more than $1,000, or by imprisonment for not more than six months, or by both.
AS 45.10.215 Applicability of chapter.
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For the purposes of this chapter, a retail installment contract or retail charge agreement is entered into in this state, and is therefore subject to the provisions of this chapter, if either the seller offers or agrees to sell to a resident buyer in this state or if a resident b…
AS 45.10.220 Definitions.
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In this chapter, unless the context otherwise requires, (1) “cash sale price” means the price for which the seller would have sold or furnished to the buyer and the buyer would have bought or obtained from the seller the goods or services that are the subject matter of a retail i…
AS 45.10.230 Short title.
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This chapter may be cited as the Alaska Retail Installment Sales Act.
AS 45.12.101 Short title.
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This chapter may be cited as the Uniform Commercial Code — Leases.
AS 45.12.102 Scope.
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This chapter applies to any transaction, regardless of form, that creates a lease.
AS 45.12.103 Definitions and index of definitions.
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(a) In this chapter, unless the context otherwise requires, (1) “buyer in ordinary course of business” means a person who, in good faith and without knowledge that the sale to that person is in violation of the ownership rights or security interest or leasehold interest of a thir…
AS 45.12.104 Leases subject to other law.
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(a) A lease, although subject to this chapter, is also subject to an applicable (1) certificate of title statute of this state, including AS 28.10.201; (2) certificate of title statute of another jurisdiction as provided in AS 45.12.105; (3) consumer protection statute of this st…
AS 45.12.105 Territorial application of article to goods covered by certificate of title.
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Subject to the provisions of AS 45.12.304(c) and 45.12.305(c), with respect to goods covered by a certificate of title issued under a statute of this state or of another jurisdiction, compliance and the effect of compliance or noncompliance with a certificate of title statute are…
AS 45.12.106 Limitation on power of parties to consumer lease to choose applicable law and judicial forum.
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(a) If the law chosen by the parties to a consumer lease is that of a jurisdiction other than a jurisdiction in which the lessee resides at the time the lease agreement becomes enforceable or within 30 days after that date or in which the goods are to be used, the choice is not e…
AS 45.12.107 Waiver or renunciation of claim or right after default or breach.
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A claim or right arising out of an alleged default or breach of warranty may be discharged in whole or in part without consideration by a written waiver or renunciation signed and delivered by the aggrieved party.
AS 45.12.108 Unconscionability.
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(a) If the court as a matter of law finds a lease contract or a clause of a lease contract to have been unconscionable at the time it was made, the court may refuse to enforce the lease contract, or it may enforce the remainder of the lease contract without the unconscionable cla…
AS 45.12.109 Option to accelerate at will.
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Article 2. Formation and Construction of Lease Contract. (a) A term providing that one party or the party's successor in interest may accelerate payment or performance or require collateral or additional collateral “at will” or “when the party considers itself insecure,” or in wo…
AS 45.12.201 Statute of frauds.
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(a) A lease contract is not enforceable by way of action or defense unless (1) the total payments to be made under the lease contract, excluding payments for options to renew or buy, are less than $1,000; or (2) there is a writing, signed by the party against whom enforcement is …
AS 45.12.202 Final written expression: parol or extrinsic evidence.
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Terms with respect to which the confirmatory memoranda of the parties agree or that are otherwise set out in a writing intended by the parties as a final expression of their agreement with respect to the terms that are included in the memoranda or other writing may not be contrad…
AS 45.12.203 Seals inoperative.
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The affixing of a seal to a writing evidencing a lease contract or an offer to enter into a lease contract does not render the writing a sealed instrument, and the law with respect to sealed instruments does not apply to the lease contract or offer.
AS 45.12.204 Formation in general.
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(a) A lease contract may be made in any manner sufficient to show agreement, including conduct by both parties that recognizes the existence of a lease contract. (b) An agreement sufficient to constitute a lease contract may be found although the moment of its making is undetermi…
AS 45.12.205 Firm offers.
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An offer by a merchant to lease goods to or from another person in a signed writing that by its terms gives assurance that it will be held open is not revocable, for lack of consideration, during the time stated or, if no time is stated, for a reasonable time; however, in no even…
AS 45.12.206 Offer and acceptance in formation of lease contract.
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(a) Unless otherwise unambiguously indicated by the language or circumstances, an offer to make a lease contract must be construed as inviting acceptance in any manner and by any medium reasonable under the circumstances. (b) If the beginning of a requested performance is a reaso…
AS 45.12.207 Course of performance or practical construction. [Repealed, § 113 ch 44 SLA 2009.]
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[Repealed or reserved.]
AS 45.12.208 Modification, rescission, and waiver.
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(a) An agreement modifying a lease contract does not need consideration to be binding. (b) A signed lease agreement that excludes modification or rescission except by a signed writing may not be otherwise modified or rescinded, but, except as between merchants, such a requirement…
AS 45.12.209 Lessee under finance lease as beneficiary of supply contract.
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(a) The benefit of a supplier's promises to the lessor under the supply contract and of all warranties, whether express or implied, including those of a third party provided in connection with or as part of the supply contract, extends to the lessee to the extent of the lessee's …
AS 45.12.210 Express warranties.
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(a) Express warranties by the lessor are created as follows: (1) an affirmation of fact or promise made by the lessor to the lessee that relates to the goods and becomes part of the basis of the bargain creates an express warranty that the goods will conform to the affirmation or…
AS 45.12.211 Warranties against interference and against infringement; lessee's obligation against infringement.
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(a) There is in a lease contract a warranty that for the lease term a person does not hold a claim to or interest in the goods that arose from an act or omission of the lessor, other than a claim by way of infringement or the like, that will interfere with the lessee's enjoyment …
AS 45.12.212 Implied warranty of merchantability.
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(a) Except in a finance lease, a warranty that the goods will be merchantable is implied in a lease contract if the lessor is a merchant with respect to goods of that kind. (b) Goods to be merchantable must be at least goods that (1) pass without objection in the trade under the …
AS 45.12.213 Implied warranty of fitness for particular purpose.
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Except in a finance lease, if the lessor at the time the lease contract is made has reason to know of a particular purpose for which the goods are required and that the lessee is relying on the lessor's skill or judgment to select or furnish suitable goods, there is in the lease …
AS 45.12.214 Exclusion or modification of warranties.
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(a) Words or conduct relevant to the creation of an express warranty and words or conduct tending to negate or limit a warranty shall be construed wherever reasonable as consistent with each other; but, subject to the provisions of AS 45.12.202 on parol or extrinsic evidence, neg…
AS 45.12.215 Cumulation and conflict of warranties express or implied.
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Warranties, whether express or implied, shall be construed as consistent with each other and as cumulative, but if that construction is unreasonable, the intention of the parties determines which warranty is dominant. In ascertaining that intention the following rules apply: (1) …
AS 45.12.216 Third-party beneficiaries of express and implied warranties.
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A warranty to or for the benefit of a lessee under this chapter, whether express or implied, extends to any natural person who may reasonably be expected to use, consume, or be affected by the goods and who is injured in person by breach of the warranty. This section does not dis…
AS 45.12.217 Identification.
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Identification of goods as goods to which a lease contract refers may be made at any time and in any manner explicitly agreed to by the parties. In the absence of explicit agreement, identification occurs (1) when the lease contract is made if the lease contract is for a lease of…