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Code · Maine · Title 11: UNIFORM COMMERCIAL CODE

§7-1505. Indorser not guarantor for other parties

43 words·~1 min read·/me/title-11-uniform-commercial-code/7-1505

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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. [PL 2009, c. 324, Pt. A, §2 (NEW); PL 2009, c. 324, Pt. A, §4 (AFF).]
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