Section 75-7-505 - Indorser not a 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 by previous indorsers.Codes, 1942, § 41A:7-505; Laws, 1966, ch. 316, § 7-505; Laws, 2006, ch. 527, § 32, eff. 7/1/2006.