A party to or purchaser for value in good faith of a document of title, other than a bill of lading, that relies on the description of the goods in the document may recover from the issuer damages caused by the nonreceipt or misdescription of the goods, except to the extent that

(1) the document conspicuously indicates that the issuer does not know whether all or part of the goods in fact were received or conform to the description, as in the case where the description is in terms of marks or labels or kind, quantity, or condition, or the receipt or description is qualified by “contents, condition, and quality unknown,” “said to contain,” or words of similar import, if this indication is true; or
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Terms Used In Alaska Statutes 45.07.203

  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • goods: means all things that are treated as movable for the purposes of a contract for storage or transportation. See Alaska Statutes 45.07.112
  • issuer: includes a person for whom an agent or employee purports to act in issuing a document if the agent or employee has real or apparent authority to issue documents, even if the issuer did not receive the goods, the goods were misdescribed, or in another respect the agent or employee violated the issuer's instructions. See Alaska Statutes 45.07.112
(2) the party or purchaser otherwise has notice of the nonreceipt or misdescription.
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