Montana Code 30-7-505. Endorser not a guarantor for other parties
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30-7-505. Endorser not a guarantor for other parties. The endorsement of a document of title issued by a bailee does not make the endorser liable for any default by the bailee or by previous endorsers.
Terms Used In Montana Code 30-7-505
- 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 Montana Code 30-7-102
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC