(a) Except as otherwise provided under AS 45.12.511 , with respect to goods that threaten to decline in value speedily and subject to a security interest of a lessee under AS 45.12.508 (e),
(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 AS 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.
Section: Previous 45.12.505 45.12.506 45.12.507 45.12.508 45.12.509 45.12.510 45.12.511 45.12.512 45.12.513 45.12.514 45.12.515 45.12.516 45.12.517 45.12.518 45.12.519 NextLast modified: November 15, 2016