Alaska Statutes Title 45, Chapter 45.12, Article 05 - Default

• Sec. 45.12.501 Default: Procedure.
  (a) Whether the lessor or the lessee is in default under a lease contract is determined by the lease agreement and this chapter.(b) If...
• Sec. 45.12.502 Notice After Default.
  Except as otherwise provided in this chapter or the lease agreement, the lessor or lessee in default under the lease contract is not entitled...
• Sec. 45.12.503 Modification or Impairment of Rights and Remedies.
  (a) Except as otherwise provided in this chapter, the lease agreement may include rights and remedies for default in addition to or in substitution...
• Sec. 45.12.504 Liquidation of Damages.
  (a) Damages payable by either party for default, or another act or omission, including indemnity for loss or diminution of anticipated tax benefits or...
• 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 are still executory on both sides are discharged, but any right based on prior...
• Sec. 45.12.506 Statute of Limitations.
  (a) An action for default under a lease contract, including breach of warranty or indemnity, must be commenced within four years after the cause...
• Sec. 45.12.507 Proof of Market Rent: Time and Place.
  (a) Damages based on market rent under AS 45.12.519 or 45.12.528 are determined according to the rent for the use of the goods concerned...
• Sec. 45.12.508 Lessee's Remedies.
  (a) If a lessor fails to deliver the goods in conformity with the lease contract (AS 45.12.509 ) or repudiates the lease contract (AS...
• Sec. 45.12.509 Lessee's Rights on Improper Delivery; Rightful Rejection.
  (a) Subject to the provisions of AS 45.12.510 on default in installment lease contracts, if the goods or the tender or delivery fail in...
• Sec. 45.12.510 Installment Lease Contracts: Rejection and Default.
  (a) Under an installment lease contract a lessee may reject a delivery that is nonconforming if the nonconformity substantially impairs the value of that...
• Sec. 45.12.511 Merchant Lessee's Duties As to Rightfully Rejected Goods.
  (a) Subject to a security interest of a lessee under AS 45.12.508(e), if a lessor or a supplier does not have an agent or...
• Sec. 45.12.512 Lessee's Duties As to Rightfully Rejected Goods.
  (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...
• Sec. 45.12.513 Cure by Lessor of Improper Tender or Delivery; Replacement.
  (a) If a tender or delivery by the lessor or the supplier is rejected because it is nonconforming and the time for performance has...
• Sec. 45.12.514 Waiver of Lessee's Objections.
  (a) In rejecting goods, a lessee's failure to state a particular defect that is ascertainable by reasonable inspection precludes the lessee from relying on...
• Sec. 45.12.515 Acceptance of Goods.
  (a) Acceptance of goods occurs after the lessee has had a reasonable opportunity to inspect the goods and(1) the lessee signifies or acts with...
• 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 accordance with the lease contract, with due allowance for goods rightfully rejected or not...
• Sec. 45.12.517 Revocation of Acceptance of Goods.
  (a) A lessee may revoke acceptance of a lot or commercial unit whose nonconformity substantially impairs its value to the lessee if the lessee...
• Sec. 45.12.518 Cover; Substitute Goods.
  (a) After a default, by a lessor under the lease contract, of the type described in AS 45.12.508 (a), or, if agreed, after other...
• 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 to damages liquidated in the lease agreement or otherwise determined under agreement of the...
• Sec. 45.12.520 Lessee's Incidental and Consequential Damages.
  (a) Incidental damages resulting from a lessor's default include expenses reasonably incurred in inspection, receipt, transportation, and care and custody of goods rightfully rejected...
• Sec. 45.12.521 Lessee's Right to Specific Performance or Replevin.
  (a) Specific performance may be decreed if the goods are unique or in other proper circumstances.(b) A decree for specific performance may include any...
• Sec. 45.12.522 Lessee's Right to Goods on Lessor's Insolvency.
  (a) Subject to (b) of this section and even though the goods have not been shipped, a lessee who has paid a part or...
• Sec. 45.12.523 Lessor's Remedies.
  (a) If a lessee wrongfully rejects or revokes acceptance of goods or fails to make a payment when due or repudiates with respect to...
• Sec. 45.12.524 Lessor's Right to Identify Goods to Lease Contract.
  (a) After default, by the lessee under the lease contract, of the type described in AS 45.12.523 (a) or (c)(1) or, if agreed, after...
• Sec. 45.12.525 Lessor's Right to Possession of Goods.
  (a) If a lessor discovers the lessee to be insolvent, the lessor may refuse to deliver the goods.(b) After a default, by the lessee...
• Sec. 45.12.526 Lessor's Stoppage of Delivery in Transit or Otherwise.
  (a) A lessor may stop delivery of goods in the possession of a carrier or other bailee if the lessor discovers the lessee to...
• Sec. 45.12.527 Lessor's Rights to Dispose of Goods.
  (a) After a default, by a lessee under the lease contract, of the type described in AS 45.12.523 (a) or (c)(1) or after the...
• 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 in the lease agreement under AS 45.12.504 or otherwise determined under agreement of the...
• Sec. 45.12.529 Lessor's Action for the Rent.
  (a) After default, by the lessee under the lease contract, of the type described in AS 45.12.523 (a) or (c)(1) or, if agreed, after...
• Sec. 45.12.530 Lessor's Incidental Damages.
  Incidental damages to an aggrieved lessor include commercially reasonable charges, expenses, or commissions incurred in stopping delivery, in the transportation, care, and custody of...
• Sec. 45.12.531 Standing to Sue Third Parties for Injury to Goods.
  (a) If a third party so deals with goods that have been identified to a lease contract as to cause actionable injury to a...
• Sec. 45.12.532 Lessor's Rights Regarding Residual Interest.
  In addition to any other recovery permitted by this chapter or other law, the lessor may recover from the lessee an amount that will...

Last modified: November 15, 2016