Alaska Statutes Title 45, Chapter 45.03, Article 04 - Liability of Parties

• Sec. 45.03.401 Signature.
  (a) A person is not liable on an instrument unless(1) the person signed the instrument; or(2) the person is represented by an agent or...
• Sec. 45.03.402 Signature by Representative.
  (a) If a person acting, or purporting to act, as a representative signs an instrument by signing either the name of the represented person...
• Sec. 45.03.403 Unauthorized Signature.
  (a) Unless otherwise provided in this chapter or AS 45.04, an unauthorized signature is ineffective except as the signature of the unauthorized signer in...
• Sec. 45.03.404 Impostors; Fictitious Payees.
  (a) If an impostor, by use of the mails or otherwise, induces the issuer of an instrument to issue the instrument to the impostor...
• Sec. 45.03.405 Employer's Responsibility for Fraudulent Endorsement by Employee.
  (a) For the purpose of determining the rights and liabilities of a person who, in good faith, pays an instrument or takes it for...
• Sec. 45.03.406 Negligence Contributing to Forged Signature or Alteration of Instrument.
  (a) A person whose failure to exercise ordinary care substantially contributes to an alteration of an instrument or to the making of a forged...
• Sec. 45.03.407 Alteration.
  (a) Except as provided in (b) of this section, an alteration fraudulently made discharges a party whose obligation is affected by the alteration unless...
• Sec. 45.03.408 Drawee Not Liable on Unaccepted Draft.
  A check or other draft does not of itself operate as an assignment of funds in the hands of the drawee available for its...
• Sec. 45.03.409 Acceptance of Draft; Certified Check.
  (a) "Acceptance" means the drawee's signed agreement to pay a draft as presented. Acceptance must be written on the draft and may consist of...
• Sec. 45.03.410 Acceptance Varying Draft.
  (a) If the terms of a drawee's acceptance vary from the terms of the draft as presented, the holder may refuse the acceptance and...
• Sec. 45.03.411 Refusal to Pay Cashier's Checks, Teller's Checks, and Certified Checks.
  (a) If the obligated bank wrongfully refuses to pay a cashier's check or certified check, stops payment of a teller's check, or refuses to...
• Sec. 45.03.412 Obligation of Issuer of Note or Cashier's Check.
  The issuer of a note, cashier's check, or other draft drawn on the drawer is obliged to pay the instrument according to its terms...
• Sec. 45.03.413 Obligation of Acceptor.
  (a) The acceptor of a draft is obliged to pay the draft according to its terms at the time it was accepted, even though...
• Sec. 45.03.414 Obligation of Drawer.
  (a) This section does not apply to cashier's checks or other drafts drawn on the drawer.(b) If an unaccepted draft is dishonored, the drawer...
• Sec. 45.03.415 Obligation of Endorser.
  (a) Subject to (b) - (e) of this section and AS 45.03.419 (d), if an instrument is dishonored an endorser is obliged to pay...
• Sec. 45.03.416 Transfer Warranties.
  (a) A person who transfers an instrument for consideration warrants to the transferee and, if the transfer is by endorsement, to any subsequent transferee...
• Sec. 45.03.417 Presentment Warranties.
  (a) If an unaccepted draft is presented to the drawee for payment or acceptance and the drawee pays or accepts the draft, the person...
• Sec. 45.03.418 Payment or Acceptance by Mistake.
  (a) Except as provided in (c) of this section, if the drawee of a draft pays or accepts the draft and the drawee acted...
• Sec. 45.03.419 Instruments Signed for Accommodation.
  (a) If an instrument is issued for value given for the benefit of a party to the instrument, the "accommodated party," and another party...
• Sec. 45.03.420 Conversion of Instrument.
  (a) The law applicable to conversion of personal property applies to instruments. An instrument is also converted if it is taken by transfer, other...

Last modified: November 15, 2016