Statutes > New Mexico Statutes > Chapter 55 - Uniform Commercial Code. > Article 7 - Documents of Title, 55-7-101 through 55-7-807. > Section 55-7-505 - Indorser not guarantor for other parties.

Section 55-7-505 - Indorser not guarantor for other parties.

55-7-505. 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.