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

Illinois § 7-505

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

Text

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.

Legislative History

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