Now I feel kind of bad for Boris. What would have happened if Max got another wound?
You should feel bad for Boris!
Your wounds stat represents how many hits you can take before suffering serious damage. If Max had taken another wound, he would have been at zero wounds... at this point, any additional wounds are critical hits. You roll on a table to see the effect of the critical hit (% roll, and the number of wounds taken makes the effect worse - so if you were at one wound and took three more damage, that is a -2 critical hit, which is worse than a -1 critical hit).
There's a chart for each body location, and depending on the % roll you might get stunned, break a limb, lose a limb, start bleeding to death, actually die... there are a lot of graphic descriptions. Any serious injury will probably result in death within a short time, unless there's someone with the surgery skill on hand.
Also, I've put up Max's character sheet. He's awful at fighting!