South Dakota Codified Laws 57A-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 South Dakota Codified Laws 57A-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 South Dakota Codified Laws 57A-7-102
Source: SL 2009, ch 254, § 7-505.