Indiana Code 26-1-7-505. Endorser not a guarantor for other parties
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Terms Used In Indiana Code 26-1-7-505
- 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 Indiana Code 26-1-7-102
Sec. 505. 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.
Formerly: Acts 1963, c.317, s.7-505. As amended by P.L.143-2007, SEC.56.