Act No. 2137 Section 45

Indorser not a guarantor.

Section 45

SEC. 45. Indorser not a guarantor.—The indorsement of a receipt shall not make the indorser liable for any failure on the part of the warehouseman or previous indorsers of the receipt to fulfill their respective obligations.

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Source: Supreme Court E-Library, Republic of the Philippines. Philippine laws are public documents (works of the government).

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