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Bearer security: Difference between revisions
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{{g}}A [[financial instrument]] title to which passes by delivery, so that whoever holds the instrument [[from time to time]] owns it absolutely. | {{g}}A [[financial instrument]] title to which passes by delivery, so that whoever holds the instrument [[from time to time]] owns it absolutely. | ||
This means a person dealing with the “bearer” of a [[bearer security]] need not worry herself about its provenance, the | This means a person dealing with the “bearer” of a [[bearer security]] need not worry herself about its provenance, the ''bona fides'' of the bearer or the plausibility of the bearer’s right to the asset it represents. | ||
You ''got'' it, you ''own'' it. | You ''got'' it, you ''own'' it. | ||