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  • MNEMONIC Commercial Paper

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    ruslauritta
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    REG

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    REG

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    682 views1 page

    MNEMONIC Commercial Paper

    Uploaded by

    ruslauritta
    REG

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Commercial paper -To be a negotiable instrument, the instrument must have "SUMBOD" (Signed, Unconditional promise, Money, payable

    to Bearer/Order, payable on Demand).

    -To be a holder in due course, must have "VFW" (present Value, good Faith, Without notice of any defects)

    -Holders in due course lose to real defenses - "I'M BIFF" (Infancy, material alterations, bankruptcy, insanity/illegality, fraud in the execution, forgery)

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