Do bearings transmit torque from the inner race to outer race?
no a spindle does no such thing. spindles are only on rwd cars and trucks. if you have a fwd vehicle you have an axle shaft that goes into a hub assembly
the bearings are what the spindle, axle and other various parts of the car ride on. They keep the moving parts of the car from having direct contact with the frame. This GREATLY reduces friction
The bearings allows the rotor to spin freely , without them it would be metal to metal . That would really slow your down and cost alot more to run.