bearer


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Related to bearer: bearer of bad news, Bearer cheque

Bearer

One who is the holder or possessor of an instrument that is negotiable—for example, a check, a draft, or a note—and upon which a specific payee is not designated.

A negotiable instrument that is payable to "bearer" or to "cash" or to "the order of cash," that is, not naming a payee, is a bearer instrument, and is called "bearer" paper.

bearer

n. anyone holding something, such as a check, promissory note, bank draft, or bond. This becomes important when the document (generally called a "negotiable instrument") states it is "payable to bearer," which means whoever holds this paper it can receive the funds due on it.

bearer

noun acceptor, carrier, casher, check holder, draft holder, grantee, holder, possessor, receiver, recipient, taker, transferee
Associated concepts: bearer check, bearer instrument, bearer note, bearer paper, negotiable instruments

bearer

the person holding. Where a BILL OF EXCHANGE or a security is made payable ‘to bearer’, anyone who presents the bill or security may claim payment; in the case of a transfer, indorsement is not necessary. A bearer bill (of exchange) is therefore one made out to the bearer.

BEARER. One who bears or carries a thing.
     2. If a bill or note be made payable to bearer, it will pass by delivery only, without endorsement; and whoever fairly acquires a right to it, may maintain an action against the drawer or acceptor.
     3. It has been decided that the bearer of a bank note, payable to bearer, is not an assignee of a chose in action within the 11th section of the judiciary act of, 1789, c. 20, limiting the jurisdiction of the circuit court. 3 Mason, R. 308.
     4. Bills payable to bearer are contra-distinguished from those payable to order, which can be transferred only by endorsement and delivery.
     5. Bills payable to fictitious payees, are considered as bills payable to, bearer.

References in classic literature ?
This time some of the bearers were left behind, and ox-carts were substituted for them, as it was possible to carry more goods this way,
Give us a light," said the other bearer, "or I shall never find what I am looking for.
He is also the bearer of a second confidential epistle for his eminence.
Our friend Dominicus, in his vanity of heart, forgot his intended precautions, and mounting on the town pump, announced himself as the bearer of the authentic intelligence which had caused so wonderful a sensation.
Lift me up," she cried to the bearers, and once more we set out for the roulette-salons.
It consists of a limp and ugly figure carried in a chair by two bearers and attended by a lean female with a face like a pinched mask, who might be expected immediately to recite the popular verses commemorative of the time when they did contrive to blow Old England up alive but for her keeping her lips tightly and defiantly closed as the chair is put down.
Yes, and afterwards sneaked off with Francis," Trent broke in bitterly, "and took every bearer with him - after we'd paid them for the return journey too.
This man has just arrived from Paris, sir," he continued, "and is the bearer of a letter which he is instructed to deliver into your hands only.
Shut up the place, turn out directly, and send me the key by bearer.
He bellowed at the tottering crowd who blocked the quick march of his bearers.
Then, accompanied by Umbopa, Khiva, Ventvogel, and half a dozen bearers whom we hired on the spot, we started off on foot upon our wild quest.
exclaimed different voices; and the heavy breathing of the bearers and the shuffling of their feet grew more hurried, as if the weight they were carrying were too much for them.