Which of the following allows a drawer of a document to correct any error?

A. C.I.F
B. I.O.U
C. C.W.O
D. E.O.E

Correct Answer: Option D

D. E.O.E

Explanation

E.O.E; is An abbreviation for “errors and omissions excepted,” a disclaimer stating that information in a document is not necessarily accurate. E&OE, statements are most common when information changes quickly.

C.I.F; Cost, Insurance and Freight (CIF) is an expense paid by a seller to cover the costs, insurance, and freight against the possibility of loss or damage to a buyer’s order while it is in transit

C.W.O; cash with order.

I.O.U; An IOU (abbreviated from the phrase “I owe you”) is usually an informal document acknowledging debt. An IOU differs from a promissory note in that an IOU is not a negotiable instrument and does not specify repayment terms such as the time of repayment.