(a) A lessor may stop delivery of goods in the possession of a carrier or other bailee if the lessor discovers the lessee to be insolvent and may stop delivery of carload, truckload, planeload, or larger shipments of express or freight if the lessee repudiates or fails to make a payment due before delivery, whether for rent, security, or otherwise under the leasecontract, or for any other reason the lessor has a right to withhold or take possession of the goods.
Terms Used In Alaska Statutes 45.12.526
Contract: A legal written agreement that becomes binding when signed.
Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
lessee: means a person who acquires the right to possession and use of goods under a lease. See Alaska Statutes 45.12.103
lessor: means a person who transfers the right to possession and use of goods under a lease. See Alaska Statutes 45.12.103
person: includes a corporation, company, partnership, firm, association, organization, business trust, or society, as well as a natural person. See Alaska Statutes 01.10.060
(b) In pursuing its remedies under (a) of this section, the lessor may stop delivery until
(1) receipt of the goods by the lessee;(2) acknowledgment to the lessee by a bailee of the goods, except a carrier, that the bailee holds the goods for the lessee; or(3) an acknowledgment to the lessee under (1) or (2) of this subsection by a carrier by reshipment or as a warehouse.(c) To stop delivery, a lessor shall so notify as to enable the bailee by reasonable diligence to prevent delivery of the goods.(d) After notification, the bailee shall hold and deliver the goods according to the directions of the lessor, but the lessor is liable to the bailee for any ensuing charges or damages.(e) A carrier who has issued a nonnegotiable bill of lading is not obliged to obey a notification to stop received from a person other than the consignor.
