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The draft is an unconditional order to make payment in accordance with its terms, which specify the documents needed before title to the goods will be passed.
Short-Term Memory
Activated memory that holds a few items briefly, such as digits of a phone number while calling, before the information is stored or forgotten.
Sensory Memory
The shortest-term element of memory, it allows individuals to retain impressions of sensory information after the original stimulus has ceased.
Atkinson And Shiffrin
A model of memory proposed by Richard Atkinson and Richard Shiffrin in 1968, describing memory in terms of three stores: sensory memory, short-term memory, and long-term memory.
Long-Term Memory
The relatively permanent and limitless storehouse of the memory system. Includes knowledge, skills, and experiences.
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