Section 7--505. Indorser Not 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.
Indorser Not Guarantor for Other Parties
N.Y. Uniform Commercial Code Law § 7-505, under Warehouse Receipts and Bills of Lading: Negotiation and Transfer.
N.Y. Uniform Commercial Code Law § 7-505