Bearer
An individual who is in possession of a negotiable instrument, document of title, or certificated security that is either payable to the person in possession (ie. payable to bearer) or indorsed in blank.
Definition from Nolo’s Plain-English Law Dictionary
A person holding a negotiable instrument, such as a check, promissory note, bank draft, or bond. This becomes important when the document states it is "payable to bearer," which means whoever holds this paper it can receive the funds due on it.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:11 pm
