impersonal payee

impersonal payee
A payee of a bill or note designated as "cash," "bills payable or order," or otherwise than in the name of a person, association, partnership, or corporation, the consequence being that the instrument is payable to bearer. 11 Am J2d B & N § 124.

Ballentine's law dictionary. . 1998.

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  • payable to bills payable — Designation of an impersonal payee in creating a bearer instrument. 11 Am J2d B & N § 124 …   Ballentine's law dictionary

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