84-7-505. Indorser not a guarantor for other parties. 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: L. 2007, ch. 90, § 34; July 1, 2008.
KANSAS COMMENT, 1996
This section is in accord with former K.S.A. 82-145 and present K.S.A. 34-285. Under this section, an indorser of a document of title does not assume any additional contractual liability. The indorsement is more in the nature of a conveyance of an interest in the goods covered by the document. This rule differs from the rule as to negotiation of commercial paper, under which an indorser does assume a secondary contractual liability under 84-3-415. Warranties under 84-7-507 are given, however.
Revisor's Note:
Former section 84-7-505 repealed by L. 2007, ch. 90, § 78 and the number reassigned to the current text.
|
|