Home/Illinois/Statutes/Topic: BUSINESS AND EMPLOYMENT/Ch. 810: COMMERCIAL CODE/Act 810 ILCS 5/: Uniform Commercial Code./Art.: Article 7 - Documents of Title/§ 7-505
Illinois Statutes

§ 7-505 — Indorser not a guarantor for other parties

Illinois·Topic BUSINESS AND EMPLOYMENT·Ch. 810 COMMERCIAL CODE·Act 810 ILCS 5/ Uniform Commercial Code.·Art. Article 7 - Documents of Title
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.

Free access — add to your briefcase to read the full text and ask questions with AI

Illinois § 7-505 (Indorser not a guarantor for other parties) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

(Source: P.A. 95-895, eff. 1-1-09.)

Nearby Sections

15
§ 7-101
Short title
§ 7-102
Definitions and index of definitions
§ 7-103
Relation of Article to treaty or statute
§ 7-104
Negotiable and nonnegotiable document of title
§ 7-105
Reissuance in alternative medium
§ 7-106
Control of electronic document of title
§ 7-201
§ 7-201
§ 7-202
Form of warehouse receipt; effect of omission
§ 7-203
Liability for non-receipt or misdescription
§ 7-204
§ 7-204
§ 7-205
Title under warehouse receipt defeated in certain cases
§ 7-206
Termination of storage at warehouse's option
§ 7-207
Goods must be kept separate; fungible goods
§ 7-208
Altered warehouse receipts
§ 7-209
Lien of warehouse
View on official source ↗