Legal Definition of Bearer: The person who has a document in his possession and who will receive any payment that is due on said document. As an example, when a check or note is payable to bearer, anyone who presents the check or note will receive the payment therefrom | Understand the Legal Definition of Bearer: Learn about the concept of bearer and its implications for financial instruments such as checks and notes. Protect your business from fraud and make informed decisions. Stay empowered!