N.Y. Uniform Commercial Code 3-111 – Payable to Bearer
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Section 3–111. Payable to Bearer.
Terms Used In N.Y. Uniform Commercial Code 3-111
- Instrument: means a negotiable instrument. See N.Y. Uniform Commercial Code 3-102
- order: is a direction to pay and must be more than an
authorization or request. See N.Y. Uniform Commercial Code 3-102
An instrument is payable to bearer when by its terms it is payable to
(a) bearer or the order of bearer; or
(b) a specified person or bearer; or
(c) "cash" or the order of "cash", or any other indication which
does not purport to designate a specific payee.