California Commercial Code 7505 – The indorsement of a tangible document of title issued by a bailee …
Current as of: 2024 | Check for updates
|
Other versions
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 endorsers.
(Repealed and added by Stats. 2006, Ch. 254, Sec. 49. Effective January 1, 2007.)
Terms Used In California Commercial Code 7505
- Bailee: means a person that by a warehouse receipt, bill of lading, or other document of title acknowledges possession of goods and contracts to deliver them. See California Commercial Code 7102
- Document of title: includes a bill of lading, dock warrant, dock receipt, warehouse receipt, or order for the delivery of goods, and also any other document which in the regular course of business or financing is treated as adequately evidencing that the person in possession of it is entitled to receive, hold, and dispose of the document and the goods it covers. See California Commercial Code 1201