Minnesota Statutes 336.7-505 – Indorser Not Guarantor for Other Parties
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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.
Terms Used In Minnesota Statutes 336.7-505
- 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 Minnesota Statutes 336.7-102