bearer paper
A negotiable instrument (e.g. a bond) which is payable to whoever has possession (is the bearer). Compare to an order paper which is only payable to the person named on the instrument. For example, a check is only payable to the person named on the check (the person to whom the paper orders the payment be made).
Definition from Nolo’s Plain-English Law Dictionary
A negotiable instrument payable to whoever has possession of it, rather than being payable to a specific person.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:11 pm
