Statutes > New York Statutes > UCC - Uniform Commercial Code > Article 7 - WAREHOUSE RECEIPTS, BILLS OF LADING AND OTHER DOCUMENTS OF TITLE > Part 5 - (7-501 - 7-509) WAREHOUSE RECEIPTS AND BILLS OF LADING: NEGOTIATION AND TRANSFER > 7-505 - Indorser Not a Guarantor for Other Parties.

7-505 - Indorser Not a Guarantor for Other Parties.

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