Alaska Statutes Title 45, Chapter 45.12, Article 02 - Formation and Construction of Lease Contract

• Sec. 45.12.201 Statute of Frauds.
  (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,...
• Sec. 45.12.202 Final Written Expression: Parol or Extrinsic Evidence.
  Terms with respect to which the confirmatory memoranda of the parties agree or that are otherwise set out in a writing intended by the...
• Sec. 45.12.203 Seals Inoperative.
  The affixing of a seal to a writing evidencing a lease contract or an offer to enter into a lease contract does not render...
• Sec. 45.12.204 Formation in General.
  (a) A lease contract may be made in any manner sufficient to show agreement, including conduct by both parties that recognizes the existence of...
• Sec. 45.12.205 Firm Offers.
  An offer by a merchant to lease goods to or from another person in a signed writing that by its terms gives assurance that...
• Sec. 45.12.206 Offer and Acceptance in Formation of Lease Contract.
  (a) Unless otherwise unambiguously indicated by the language or circumstances, an offer to make a lease contract must be construed as inviting acceptance in...
• Sec. 45.12.207 Course of Performance or Practical Construction. [Repealed, Sec. 113 Ch 44 Sla 2009].
  Repealed or Renumbered
• Sec. 45.12.208 Modification, Rescission, and Waiver.
  (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...
• Sec. 45.12.209 Lessee Under Finance Lease As Beneficiary of Supply Contract.
  (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...
• Sec. 45.12.210 Express Warranties.
  (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...
• 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 for the lease term a person does not hold a claim to or interest...
• Sec. 45.12.212 Implied Warranty of Merchantability.
  (a) Except in a finance lease, a warranty that the goods will be merchantable is implied in a lease contract if the lessor is...
• Sec. 45.12.213 Implied Warranty of Fitness for Particular Purpose.
  Except in a finance lease, if the lessor at the time the lease contract is made has reason to know of a particular purpose...
• Sec. 45.12.214 Exclusion or Modification of Warranties.
  (a) Words or conduct relevant to the creation of an express warranty and words or conduct tending to negate or limit a warranty shall...
• Sec. 45.12.215 Cumulation and Conflict of Warranties Express or Implied.
  Warranties, whether express or implied, shall be construed as consistent with each other and as cumulative, but if that construction is unreasonable, the intention...
• Sec. 45.12.216 Third-Party Beneficiaries of Express and Implied Warranties.
  A warranty to or for the benefit of a lessee under this chapter, whether express or implied, extends to any natural person who may...
• Sec. 45.12.217 Identification.
  Identification of goods as goods to which a lease contract refers may be made at any time and in any manner explicitly agreed to...
• Sec. 45.12.218 Insurance and Proceeds.
  (a) A lessee obtains an insurable interest when existing goods are identified to the lease contract even though the goods identified are nonconforming and...
• Sec. 45.12.219 Risk of Loss.
  (a) Except in the case of a finance lease, risk of loss is retained by the lessor and does not pass to the lessee....
• Sec. 45.12.220 Effect of Default on Risk of Loss.
  (a) Where risk of loss is to pass to the lessee and the time of passage is not stated(1) if a tender or delivery...
• Sec. 45.12.221 Casualty to Identified Goods.
  If a lease contract requires goods identified when the lease contract is made, and the goods suffer casualty without fault of the lessee, the...

Last modified: November 15, 2016