Ohio Code 1307.505 – Indorser not guarantor for other parties – UCC 7-505
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Indorser not guarantor for other parties [UCC 7-505]
Terms Used In Ohio Code 1307.505
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
The indorsement of a tangible document of title issued by a bailee does not make the indorser liable for any default by the bailee or previous indorsers.