Virginia Code 8.7-505: Endorser not a guarantor for other parties
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The endorsement of a tangible document issued by a bailee does not make the endorser liable for any default by the bailee or by previous endorsers.
Terms Used In Virginia Code 8.7-505
- Bailee: means the person who by a warehouse receipt, bill of lading or other document acknowledges possession of goods and contracts to deliver them. See Virginia Code 8.7-102
- Document: means document of title as defined in the general definitions in Title 8. See Virginia Code 8.7-102
Code 1950, § 61-48; 1964, c. 219; 2004, c. 200.