Endorser not a guarantor for other parties.

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  4. Endorser not a guarantor for other parties.

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Endorser Not a Guarantor For Other Parties.

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 by previous endorsers.

Added by Laws 1961, p. 150, § 7-505. Amended by Laws 2005, c. 140, § 32, eff. Jan. 1, 2006.


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