Rhode Island General Laws 6A-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.
History of Section.
P.L. 2006, ch. 112, § 6; P.L. 2006, ch. 135, § 6.
Terms Used In Rhode Island General Laws 6A-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 Rhode Island General Laws 6A-7-102