Frantz v. First National Bank of Anchorage

OPINION

MATTHEWS, Justice.

This case arises under the commercial paper article of the Uniform Commercial Code as enacted in Alaska. 1 A section of that article provides that the drawer of a check which is dishonored is liable to its holder. 2 If the holder is not a holder in due course he takes the check subject to all defenses which the drawer has against any other party to the check. 3 A holder in due course, on the other hand, takes the check free from all but a very limited class of defenses. 4 In this case the court determined that the First National Bank of Anchorage was a holder in due…