Definitions for "BEARER INSTRUMENT"
negotiable instrument which is payable on demand to the holder, regardless of whom it was originally issued to.
A note, instrument, or draft, payable to someone other than a designated payee, i.e., the bearer or to cash. Beneficiary. A person entitled to the benefits of a trust, will, insurance policy, pension plan, etc. For example, if you name your daughter as the sole beneficiary of a life insurance policy, only she is entitle to the proceeds.
A valuable document (a bond or other security) which does not bear the name of its legal owner; may be redeemed by whoever is in possession of it.