Indorser Not Guarantor For Other Parties.
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.
N.J. Stat. Ann. § 12A:7-505
Indorser not guarantor for other parties
Known as the Uniform Commercial Code
The act spans §§ 12A:1-101 to 12A:9-809 (506 sections).
L.2013, c.65, s.2.
Current official text: New Jersey Legislature. Digitized from the New Jersey Legislature bulk statutes download. Reproduced from public-domain New Jersey statutes; confirm against the official source for the current text. Not legal advice.