Statutes > Alabama Statutes > Title 7 — COMMERCIAL CODE. > Article 7 — WAREHOUSE RECEIPTS, BILLS OF LADING AND OTHER DOCUMENTS OF TITLE. > Section 7-7-505 Indorser not guarantor for other parties.

Section 7-7-505 Indorser not guarantor for other parties.

Section 7-7-505

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.

(Prior version of this section added by Acts 1965, No. 549, p. 811; repealed by Act 2004-315, p. 464, §1; current section added by Act 2004-315, p. 464, §1.)