A "Bearer" is a person or entity that holds or possesses something, often a financial instrument or legal document. In finance, a bearer instrument, like a bearer bond, is a type of security that is not registered in the name of the owner, meaning whoever physically holds the document can claim the benefits associated with it. In legal contexts, a bearer may refer to someone who has the right to receive or claim a certain asset or benefit, such as a bearer check. This type of check can be cashed by anyone who presents it, making it a convenient but less secure form of payment.