Pay To Bearer

Pay To Bearer
Any check or draft that can be transferred to the holder by delivery without having to be endorsed. As the name implies, "pay to bearer" refers to any negotiable instrument that is simply paid to the bearer without requiring proof of identity. Pay-to-bearer instruments are not registered in the name of a specific owner and will pay to whoever bears them.

A bearer bond is one type of pay-to-bearer instrument. These bonds pay interest for each detachable coupon redeemed, regardless of who redeems them.

Investment dictionary. . 2012.

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  • 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 — UK [ˈbeərə(r)] / US [ˈberər] noun [countable] Word forms bearer : singular bearer plural bearers 1) someone who brings you a particular type of news or information bearer of: I hate to be the bearer of bad news. 2) someone whose job is to carry… …   English dictionary

  • bearer — bear|er [ berər ] noun count 1. ) someone whose job is to carry something such as a flag, especially in a ceremony 2. ) someone who brings you a particular type of news or information: bearer of: I hate to be the bearer of bad news. 3. ) FORMAL… …   Usage of the words and phrases in modern English

  • bearer — Inglish (Indian English) Dictionary Waiter (on a cheque or financial document) cash (pay to bearer in India is the same as pay to cash in the U.S.A …   English dialects glossary

  • Pay To Order — A check or draft that must be paid via endorsement and delivery. Pay to order instruments are negotiable checks or drafts that are generally written as pay to X or order. These instruments stand in contrast to pay to bearer instruments, which do… …   Investment 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 instrument — A bearer instrument is a document that indicates that the bearer of the document has title to property, such as shares or bonds. Bearer instruments differ from normal registered instruments, in that no records are kept of who owns the underlying… …   Wikipedia

  • bearer security — /ˈbɛərə səˌkjurəti/ (say bairruh suh.kyoohruhtee) noun a security, usually money market security, which bears the instruction to pay the face amount of the security to the bearer of that security on its maturity. Also, bearer bill, bearer bond …  

  • pay cash or order — Not the equivalent of an order to pay to a specified person or to bearer so as to constitute the instrument a bill of exchange. Orbit Mining & Trading Co. v Westminster Bank, Ltd. [1962] 3 All Eng 565 (CA). A promissory note, payable to cash or… …   Ballentine's law dictionary

  • bearer — A person who presents for payment a cheque or bill of exchange marked ‘pay bearer’. As a bearer cheque or bill does not require endorsement it is considered a high risk form of transfer …   Accounting dictionary

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