WAEC Commerce 2017 Theory question 107

(a) Standing order – a customer's written instruction to his bank to pay a fixed sum to a named person at regular intervals (e.g. rent, subscriptions).
(b) Bank draft – a cheque drawn by a bank on itself (or its branch) at a customer's request, so payment is guaranteed.
(c) Legal tender – money that the law says must be accepted in settlement of debts in a country (e.g. naira notes and coins).
(d) Money order – a document bought from the post office for sending money (larger sums) to a named person who cashes it at a post office.
(e) I.O.U. ('I owe you') – a written acknowledgement of a debt signed by the debtor; it is not a negotiable instrument.

Each term needs a clear definition, ideally with an example.