bearer

The person in possession of an instrument, document of title, or security payable to bearer or indorsed in blank. U.C.C. No. 1-201(5). When a check, note, draft, etc., is payable to "bearer," it imports that such shall be payable to any person who may present the instrument for payment.

See also payable to bearer

@ bearer bond

Bonds payable to the person having possession of them. Such bonds do not require endorsement to transfer ownership but only the transfer of possession

@ bearer document

A document that runs to bearer upon issuance or after a blank indorsement, and that is negotiated by delivery alone. U.C.C. No.No. 7-501(1) & (2Xa). Anyone in possession of a bearer document is a holder of it. U.C.C. No. 1-201(20)

@ bearer instrument

An instrument is payable to bearer when by its terms it is payable to

(a) bearer or the order of bearer; or

(b) a specified person or bearer; or

(c) "cash" or the order of "cash", or any other indication which does not purport to designate a" specific payee. U.C.C. No.No. 3-111, 3-204(2)

@ bearer paper

Commercial paper payable to bearer; i.e. to the person having possession of such.

See bearer document

- bearer instrument

@ bearer security

A security whose owner is not registered on the books of the issuer. Such security is payable to the holder.

See e.g., bearer bond

@