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