Sec. 9. When payable to bearer. - Act 2031

The instrument is payable to bearer:

(a) When it is expressed to be so payable; or 
(b) When it is payable to a person named therein or bearer; or 
(c) When it is payable to the order of a fictitious or non-existing person, and such fact was known to the person making it so payable; or 
(d) When the name of the payee does not purport to be the name of any 
person; or 
(e) When the only or last indorsement is an indorsement in blank. (Negotiable Instruments Law; Act 2031)

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