Mnemonic Device:
- SWUPFONO
Explanation: To remember the requirements for a Commercial Paper (i.e., Elements of a Negotiable Instrument).
- S = Signed
- W = Writing
- U = Unconditional
- P = Promise or Order to Pay
- F = Fixed amount of money
- O = On demand or at definite time
- N = No unauthorized undertakings or instructions
- O = Order or bearer
Comment area: