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MIAMI A
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LSDefine
Simple English definitions for legal terms
bearer
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A quick definition of bearer:
A bearer is someone who has a special piece of paper that they can use to get money or something else. This paper is either made out to them or has no name on it, so anyone who has it can use it.
A more thorough explanation:
Definition: A bearer is a person who has a negotiable instrument, document of title, or certificated security that is either payable to the person in possession or indorsed in blank.
Example 1: John has a check that is payable to him. He is the bearer of the check.
Example 2: Sarah has a stock certificate that is indorsed in blank. She is the bearer of the stock certificate.
These examples illustrate the definition of a bearer. In both cases, the individuals are in possession of a negotiable instrument or certificated security that is either payable to them or indorsed in blank. As a result, they are considered bearers of these documents.