Louisiana Revised Statutes 10:7-505 – Endorser not a guarantor for other parties
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Terms Used In Louisiana Revised Statutes 10:7-505
- Bailee: means a person that by a warehouse receipt, bill of lading, or other document of title acknowledges possession of goods and contracts to deliver them. See Louisiana Revised Statutes 10:7-102
The endorsement of a tangible document of title issued by a bailee does not make the endorser liable for any default by the bailee or previous endorsers.
Added by Acts 1978, No. 164, §1, eff. Jan. 1, 1979; Acts 2009, No. 207, §3, eff. Jan. 1, 2010.