bearer


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
@

Black's law dictionary. . 1990.

Look at other dictionaries:

  • bearer — bear·er 1 / bar ər/ n: a person holding a check, draft, or other negotiable instrument for payment esp. marked payable to bearer or having a blank endorsement bearer 2 adj: freely transferable by the holder with or without endorsement and with… …   Law dictionary

  • Bearer — Bear er (b[^a]r [ e]r), n. 1. One who, or that which, bears, sustains, or carries. Bearers of burdens. 2 Chron. ii. 18. The bearer of unhappy news. Dryden. [1913 Webster] 2. Specifically: One who assists in carrying a body to the grave; a… …   The Collaborative International Dictionary of English

  • bearer — [ber′ər] n. 1. a person or thing that bears, carries, or supports 2. a plant or tree that produces fruit or blooms 3. Rare a pallbearer 4. a person presenting for payment a check, note, money order, etc. adj. payable to the bearer [bearer bonds] …   English World dictionary

  • bearer — [n1] person who carries messages or deliveries agent, beast of burden*, carrier, conveyor, courier, drogher, emissary, envoy, internuncio, messenger, porter, runner, servant, shipper, transporter; concept 348 bearer [n2] person who requests… …   New thesaurus

  • bearer — (n.) O.E. berere (in water berere), agent noun from BEAR (Cf. bear) (v.). Meaning one who helps carry a corpse to the grave is from 1630s …   Etymology dictionary

  • bearer — ► NOUN 1) a person or thing that carries something. 2) a person who presents a cheque or other order to pay money …   English terms dictionary

  • 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… …   Black's law dictionary

  • bearer — The holder of an instrument. American Banker Glossary also bearer form Euroclear Clearing and Settlement glossary The owner is not registered in the books of the issuer or of the registrar. Euroclear Clearing and Settlement glossary See also… …   Financial and business terms

  • bearer — [[t]be͟ərə(r)[/t]] bearers 1) N COUNT: usu N of n The bearer of something such as a message is the person who brings it to you. I hate to be the bearer of bad news. 2) N COUNT: usu n N A bearer of a particular thing is a person who carries it,… …   English dictionary

  • Bearer — A bearer is someone who, or something which, bears or carries something, momentarily or in a more systematical sense, for example: *Porter (carrier), also called a bearer, is a person who carries objects *Bearer instrument, the bearer of the… …   Wikipedia


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