reglab/housing_qa huggingface dataset:
AK Stat § 45.01.213 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 01. General Provisions|Article 2. General Definitions and Principles of Interpretation.|Sec. 45.01.213. Lease distinguished from security interest.

(a) Whether a transaction in the form of a lease creates a lease or security interest is determined by the facts of each case. (b) A transaction in the form of a lease creates a security interest if the consideration that the lessee is to pay the lessor for the right to possession and use of the goods is an obligation for the term of the lease and is not subject to termination by the lessee, and the (1) original term of the lease is equal to or greater than the remaining economic life of the goods; (2) lessee is bound to renew the lease for the remaining economic life of the goods or is bound to become the owner of the goods; (3) lessee has an option to renew the lease for the remaining economic life of the goods for no additional consideration or for nominal additional consideration upon compliance with the lease agreement; or (4) lessee has an option to become the owner of the goods for no additional consideration or for nominal additional consideration on compliance with the lease agreement. (c) A transaction in the form of a lease does not create a security interest merely because the (1) present value of the consideration the lessee is obligated to pay the lessor for the right to possession and use of the goods is substantially equal to or greater than the fair market value of the goods at the time the lease is entered into; (2) lessee assumes risk of loss of the goods; (3) lessee agrees to pay, with respect to the goods, taxes, insurance, filing, recording, or registration fees, or service or maintenance costs; (4) lessee has an option to renew the lease or to become the owner of the goods; (5) lessee has an option to renew the lease for a fixed rent that is equal to or greater than the reasonably predictable fair market rent for the use of the goods for the term of the renewal at the time the option is to be performed; or (6) lessee has an option to become the owner of the goods for a fixed price that is equal to or greater than the reasonably predictable fair market value of the goods at the time the option is to be performed. (d) Additional consideration is nominal if it is less than the lessee's reasonably predictable cost of performing under the lease agreement if the option is not exercised. Additional consideration is not nominal if, when the option to (1) renew the lease is granted to the lessee, the rent is stated to be the fair market rent for the use of the goods for the term of the renewal determined at the time the option is to be performed; or (2) become the owner of the goods is granted to the lessee, the price is stated to be the fair market value of the goods determined at the time the option is to be performed. (e) The remaining economic life of the goods and reasonably predictable fair market rent, fair market value, or cost of performing under the lease agreement must be determined with reference to the facts and circumstances at the time the transaction is entered into.
AK Stat § 45.01.214 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 01. General Provisions|Article 2. General Definitions and Principles of Interpretation.|Sec. 45.01.214. Value.

Except as otherwise provided in AS 45.03, AS 45.04, and AS 45.05, a person gives value for rights if the person acquires them (1) in return for a binding commitment to extend credit or for the extension of immediately available credit, whether or not drawn upon and whether or not a charge-back is provided for in the event of difficulties in collection; (2) as security for, or in total or partial satisfaction of, a preexisting claim; (3) by accepting delivery under a preexisting contract for purchase; or (4) in return for consideration sufficient to support a simple contract.
AK Stat § 45.01.215 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 01. General Provisions|Article 2. General Definitions and Principles of Interpretation.|Sec. 45.01.215. Reasonable time; seasonableness.

(a) Whether a time for taking an action required by the code is reasonable depends on the nature, purpose, and circumstances of the action. (b) An action is taken seasonably if it is taken at or within the time agreed on or, if no time is agreed on, at or within a reasonable time.
AK Stat § 45.01.216 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 01. General Provisions|Article 2. General Definitions and Principles of Interpretation.|Sec. 45.01.216. Presumptions.

Whenever the code creates a presumption with respect to a fact, or provides that a fact is presumed, the trier of fact must find the existence of the fact unless and until evidence is introduced that supports a finding of the nonexistence of the fact.
AK Stat § 45.01.301 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 01. General Provisions|Article 3. Territorial Applicability and General Rules.|Sec. 45.01.301. Territorial applicability; parties' power to choose applicable law.

(a) Except as otherwise provided in this section, when a transaction bears a reasonable relation to this state and also to another state or nation, the parties may agree that the law of this state or of the other state or nation shall govern the parties' rights and duties. (b) In the absence of an agreement effective under (a) of this section, and except as provided in (c) of this section, the code applies to transactions bearing an appropriate relation to this state. (c) If one of the following provisions of the code specifies the applicable law, that provision governs, and a contrary agreement is effective only to the extent permitted by the applicable law specified by that provision: (1) AS 45.02.402; (2) AS 45.04.102; (3) AS 45.05.116; (4) AS 45.08.110; (5) AS 45.12.105 and 45.12.106; (6) AS 45.14.507; (7) AS 45.29.301 - 45.29.307.
AK Stat § 45.01.302 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 01. General Provisions|Article 3. Territorial Applicability and General Rules.|Sec. 45.01.302. Variation by agreement.

(a) Except as otherwise provided in (b) of this section or elsewhere in the code, the effect of provisions of the code may be varied by agreement. (b) The obligations of good faith, diligence, reasonableness, and care prescribed by the code may not be disclaimed by agreement. The parties, by agreement, may determine the standards by which the performance of those obligations is to be measured if those standards are not manifestly unreasonable. Whenever the code requires an action to be taken within a reasonable time, a time that is not manifestly unreasonable may be fixed by agreement. (c) The presence in certain provisions of the code of the phrase “unless otherwise agreed,” or words of similar import, does not imply that the effect of other provisions may not be varied by agreement under this section.
AK Stat § 45.01.303 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 01. General Provisions|Article 3. Territorial Applicability and General Rules.|Sec. 45.01.303. Course of performance, course of dealing, and usage of trade.

(a) A “course of performance” is a sequence of conduct between the parties to a particular transaction that exists if the (1) agreement of the parties with respect to the transaction involves repeated occasions for performance by a party; and (2) other party, with knowledge of the nature of the performance and opportunity for objection to it, accepts the performance or acquiesces in it without objection. (b) A “course of dealing” is a sequence of conduct concerning previous transactions between the parties to a particular transaction that is fairly to be regarded as establishing a common basis of understanding for interpreting the parties' expressions and other conduct. (c) A “usage of trade” is a practice or method of dealing having the regularity of observance in a place, vocation, or trade as to justify an expectation that it will be observed with respect to the transaction in question. The existence and scope of a usage of trade must be proved as facts. If it is established that a usage of trade is embodied in a trade code or similar record, the interpretation of the record is a question of law. (d) A course of performance or course of dealing between the parties or usage of trade in the vocation or trade in which they are engaged or of which they are or should be aware is relevant in ascertaining the meaning of the parties' agreement, may give particular meaning to specific terms of the agreement, and may supplement or qualify the terms of the agreement. A usage of trade applicable in the place in which part of the performance under the agreement is to occur may be used as indicated in the previous sentence as to that part of the performance. (e) Except as otherwise provided in (f) of this section, the express terms of an agreement and an applicable course of performance, course of dealing, or usage of trade must be construed whenever reasonable as consistent with each other. If this construction is unreasonable, (1) express terms prevail over course of performance, course of dealing, and usage of trade; (2) course of performance prevails over course of dealing and usage of trade; and (3) course of dealing prevails over usage of trade. (f) Subject to AS 45.02.209, a course of performance is relevant to show a waiver or modification of a term inconsistent with the course of performance. (g) Evidence of a relevant usage of trade offered by one party is not admissible unless that party has given the other party notice that the court finds sufficient to prevent unfair surprise to the other party.
AK Stat § 45.01.304 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 01. General Provisions|Article 3. Territorial Applicability and General Rules.|Sec. 45.01.304. Obligation of good faith.

Every contract or duty within the code imposes an obligation of good faith in its performance and enforcement.
AK Stat § 45.01.305 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 01. General Provisions|Article 3. Territorial Applicability and General Rules.|Sec. 45.01.305. Remedies to be liberally administered.

(a) The remedies provided by the code must be liberally administered to the end that the aggrieved party may be put in as good a position as if the other party had fully performed, but neither consequential or special damages nor penal damages may be had except as specifically provided in the code or by other rule of law. (b) A right or obligation declared by the code is enforceable by action unless the provision declaring it specifies a different and limited effect.
AK Stat § 45.01.306 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 01. General Provisions|Article 3. Territorial Applicability and General Rules.|Sec. 45.01.306. Waiver or renunciation of claim or right after breach.

A claim or right arising out of an alleged breach may be discharged in whole or in part without consideration by agreement of the aggrieved party in an authenticated record.
AK Stat § 45.01.307 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 01. General Provisions|Article 3. Territorial Applicability and General Rules.|Sec. 45.01.307. Prima facie evidence by third-party documents.

A document in due form purporting to be a bill of lading, policy or certificate of insurance, official weigher's or inspector's certificate, consular invoice, or another document authorized or required by the contract to be issued by a third party is prima facie evidence of its own authenticity and genuineness and of the facts stated in the document by the third party.
AK Stat § 45.01.308 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 01. General Provisions|Article 3. Territorial Applicability and General Rules.|Sec. 45.01.308. Performance or acceptance under reservation of rights.

(a) A party who, with explicit reservation of rights, performs or promises performance or assents to performance in a manner demanded or offered by the other party does not by the performance, promise, or assent prejudice the rights reserved. The words, “without prejudice,” “under protest,” or the like are sufficient. (b) The provisions of (a) of this section do not apply to an accord and satisfaction.
AK Stat § 45.01.309 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 01. General Provisions|Article 3. Territorial Applicability and General Rules.|Sec. 45.01.309. Option to accelerate at will.

A term providing that one party or that party's successor in interest may accelerate payment or performance or require collateral or additional collateral “at will” or when the party “deems itself insecure,” or words of similar import, means that the party has power to make the acceleration or requirement only if that party in good faith believes that the prospect of payment or performance is impaired. The burden of establishing lack of good faith is on the party against whom the power has been exercised.
AK Stat § 45.01.310 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 01. General Provisions|Article 3. Territorial Applicability and General Rules.|Sec. 45.01.310. Subordinated obligations.

An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate its right to performance of an obligation by agreement with either the person obligated or another creditor of the person obligated. Subordination does not create a security interest as against either the common debtor or a subordinated creditor.
AK Stat § 45.02.101 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 02. Sales|Article 1. Short Title, General Construction, and Subject Matter.|Sec. 45.02.101. Short title.

This chapter shall be known and may be cited as Uniform Commercial Code - Sales.
AK Stat § 45.02.102 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 02. Sales|Article 1. Short Title, General Construction, and Subject Matter.|Sec. 45.02.102. Scope; certain security and other transactions excluded.

Unless the context otherwise requires, this chapter applies to transactions in goods; it does not apply to a transaction that, although in the form of an unconditional contract to sell or present sale, is intended to operate only as a security transaction, nor does this chapter impair or repeal any statute regulating sales to consumers, farmers, or other specified class of buyers.
AK Stat § 45.02.103 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 02. Sales|Article 1. Short Title, General Construction, and Subject Matter.|Sec. 45.02.103. Definitions and index of definitions.

(a) In this chapter, unless the context otherwise requires, (1) “buyer” means a person who buys or contracts to buy goods; (2) [Repealed, § 113 ch 44 SLA 2009.] (3) “receipt” of goods means taking physical possession of them; (4) “seller” means a person who sells or contracts to sell goods. (b) Other definitions applying to this chapter and the sections in which they appear are (1) “acceptance” (AS 45.02.606); (2) “banker's credit” (AS 45.02.325); (3) “between merchants” (AS 45.02.104); (4) “cancellation” (AS 45.02.106(d)); (5) “commercial unit” (AS 45.02.105); (6) “confirmed credit” (AS 45.02.325); (7) “conforming to contract” (AS 45.02.106); (8) “contract for sale” (AS 45.02.106); (9) “cover” (AS 45.02.712); (10) “entrusting” (AS 45.02.403); (11) “financing agency” (AS 45.02.104); (12) “future goods” (AS 45.02.105); (13) “goods” (AS 45.02.105); (14) “identification” (AS 45.02.501); (15) “installment contract” (AS 45.02.612); (16) “letter of credit” (AS 45.02.325); (17) “lot” (AS 45.02.105); (18) “merchant” (AS 45.02.104); (19) “overseas” (AS 45.02.323); (20) “person in position of seller” (AS 45.02.707); (21) “present sale” (AS 45.02.106); (22) “sale” (AS 45.02.106); (23) “sale or return” (AS 45.02.326); (24) “termination” (AS 45.02.106). (c) The following definitions in other chapters apply to this chapter: (1) “check” (AS 45.03.104); (2) “consignee” (AS 45.07.112); (3) “consignor” (AS 45.07.112); (4) “consumer goods” (AS 45.29.102); (5) “control” (AS 45.07.116); (6) “dishonor” (AS 45.03.502); (7) “draft” (AS 45.03.104). (d) In addition, AS 45.01 contains general definitions and principles of construction and interpretation applicable throughout this chapter.
AK Stat § 45.02.104 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 02. Sales|Article 1. Short Title, General Construction, and Subject Matter.|Sec. 45.02.104. Definitions: “merchant”; “between merchants”; “financing agency.”

(a) “Merchant” means a person who deals in goods of the kind or otherwise by occupation holds oneself out as having knowledge or skill peculiar to the practices or goods involved in the transaction or to whom this knowledge or skill may be attributed by the person's employment of an agent or broker or other intermediary who by occupation holds oneself out as having this knowledge or skill. (b) “Financing agency” means a bank, finance company, or other person who, in the ordinary course of business, makes advances against goods or documents of title or who, by arrangement with either the seller or the buyer, intervenes in ordinary course to make or collect payment due or claimed under the contract for sale, as by purchasing or paying the seller's draft or making advances against it or by merely taking it for collection whether or not documents of title accompany or are associated with the draft. “Financing agency” includes also a bank or other person who similarly intervenes between persons who are in the position of seller and buyer in respect to the goods (AS 45.02.707). (c) “Between merchants” means in any transaction with respect to which both parties are chargeable with the knowledge or skill of merchants.
AK Stat § 45.02.105 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 02. Sales|Article 1. Short Title, General Construction, and Subject Matter.|Sec. 45.02.105. Definitions: transferability; “goods”; “future” goods; “lot”; “commercial unit.”

(a) “Goods” means all things, including specially manufactured goods, that are movable at the time of identification to the contract for sale other than the money in which the price is to be paid, investment securities (AS 45.08), and things in action. “Goods” also includes the unborn young of animals and growing crops and other identified things attached to realty as described in the section on goods to be severed from realty (AS 45.02.107). (b) Goods must be both existing and identified before an interest in them can pass. Goods that are not both existing and identified are “future” goods. A purported present sale of future goods or of an interest in future goods operates as a contract to sell. (c) There may be a sale of a part interest in existing identified goods. (d) An undivided share in an identified bulk of fungible goods is sufficiently identified to be sold although the quantity of the bulk is not determined. Any agreed proportion of the bulk or a quantity of the bulk agreed upon by number, weight, or other measure may, to the extent of the seller's interest in the bulk, be sold to the buyer, who then becomes an owner in common. (e) “Lot” means a parcel or a single article that is the subject matter of a separate sale or delivery, whether or not it is sufficient to perform the contract. (f) “Commercial unit” means such a unit of goods as by commercial usage is a single whole for purposes of sale and division of which materially impairs its character or value on the market or in use. A commercial unit may be a single article (as a machine), or a set of articles (as a suite of furniture or an assortment of sizes), or a quantity (as a bale, gross, or carload), or any other unit treated in use or in the relevant market as a single whole.
AK Stat § 45.02.106 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 02. Sales|Article 1. Short Title, General Construction, and Subject Matter.|Sec. 45.02.106. Definitions: “contract”; “agreement”; “contract for sale”; “sale”; “present sale”; “conforming” to contract; “termination”; “cancellation.”

(a) In this chapter, unless the context otherwise requires, “contract” and “agreement” are limited to those relating to the present or future sale of goods. “Contract for sale” includes both a present sale of goods and a contract to sell goods at a future time. A “sale” consists in the passing of title from the seller to the buyer for a price (AS 45.02.401). A “present sale” means a sale that is accomplished by the making of the contract. (b) Goods or conduct including any part of a performance are “conforming” or conform to the contract when they are in accordance with the obligations under the contract. (c) “Termination” occurs when either party, under a power created by agreement or law, puts an end to the contract otherwise than for its breach. On “termination” all obligations that are still executory on both sides are discharged, but a right based on a prior breach of performance survives. (d) “Cancellation” occurs when either party puts an end to the contract for breach by the other and its effect is the same as that of “termination,” except that the cancelling party also retains any remedy for breach of the whole contract or an unperformed balance.
AK Stat § 45.02.107 (2021)
2021 Alaska Statutes|Title 45. Trade and Commerce|Chapter 02. Sales|Article 1. Short Title, General Construction, and Subject Matter.|Sec. 45.02.107. Goods to be severed from realty; recording.

(a) A contract for the sale of minerals or the like, including oil and gas, or a structure or its materials to be removed from realty is a contract for the sale of goods within this chapter if they are to be severed by the seller, but until severance a purported present sale that is not effective as a transfer of an interest in land is effective only as a contract to sell. (b) A contract for the sale apart from the land of growing crops or other things attached to realty and capable of severance without material harm to them but not described in (a) of this section or of timber to be cut is a contract for the sale of goods within this chapter, whether the subject matter is to be severed by the buyer or by the seller even though it forms part of the realty at the time of contracting, and the parties can by identification effect a present sale before severance. (c) This section is subject to third party rights provided by the law relating to realty records. The contract for sale may be executed and recorded as a document transferring an interest in land. It then constitutes notice to third parties of the buyer's rights under the contract for sale.