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NATIONAL BANK v. UNIVENTURES 1231

No. S-4087.

824 P.2d 1377 (1992)

NATIONAL BANK OF ALASKA, National Banking Association, Appellants, v. UNIVENTURES 1231 and State of Alaska, Department of Administration, Appellees.

Supreme Court of Alaska.

January 24, 1992.

Attorney(s) appearing for the Case

David Floerchinger and Deirdre D. Ford, Staley, DeLisio, Cook & Sherry, Inc., Anchorage, for appellants.

Sally J. Kucko and Rick L. Owen, Groh, Eggers & Price, Anchorage, for appellees Univentures 1231.

Jeffrey W. Bush, Asst. Atty. Gen., and Charles E. Cole, Atty. Gen., Juneau, for appellee State of Alaska, Dept. of Admin.

Before RABINOWITZ, C.J., and BURKE, MATTHEWS, COMPTON and MOORE, JJ.

OPINION

MOORE, Justice.

National Bank of Alaska (NBA) brought an action against the State of Alaska, Univentures 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...

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