If a person negotiates or delivers a document of title for value, other than as a mere intermediary under AS 45.07.508, unless otherwise agreed, the transferor, in addition to any warranty made in selling or leasing the goods, warrants to its immediate purchaser only that (1) the document is genuine; (2) the transferor does not have knowledge of a fact that would impair the document's validity or worth; and (3) the negotiation or delivery is rightful and fully effective with respect to the title to the document and the goods it represents.
Alaska Legal Code