Negotiable Instruments Law
Section 9. When payable to bearer.-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 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, sufficient terms.