National Bank of Alaska v. Univentures 1231

OPINION

MOORE, Justice.

National Bank of Alaska (NBA) brought an action against the State of Alaska, Uni-ventures 1231 (Univentures), Charles D. LeViege, and Lee D. Garcia to recover the amount which NBA paid on a warrant issued by the state. The superior court held that the warrant is not a negotiable instrument under the Uniform Commercial Code as enacted in Alaska, and that NBA therefore could not recover as a holder in due course under the code. NBA appeals. The sole issue on appeal is whether the superior court was correct in finding that the state treasury warrant is a non-negotiable…