N.Y. U.C.C. 7-505

Indorser Not Guarantor for Other Parties

Known as the Uniform Commercial Code

The act spans §§ 1–12 (253 sections).

2014-12-26

Section 7--505. Indorser Not Guarantor for Other Parties.\n The indorsement of a tangible document of title issued by a bailee\ndoes not make the indorser liable for any default by the bailee or\nprevious indorsers.\n

Official source: NYS Open Legislation (New York State Senate). Reproduced from public-domain New York statutes; confirm against the official source for the current text. Not legal advice.