|
Cheque |
Bill of Exchange |
|
01.
Cheque can only be drawn on bank. 02.
A cheque is payable
on demand. 03.
There is no question of
acceptance. 04. Bankers get statutory protection in case of
crossed cheques. 05.
A cheque can not be drawn in sets. 06.
The drawer has right to
countermand. |
01. Bill of Exchange is drawn on any person,
firm, company or public including a bank. 02. 3 (three) days of grace are allowed to the drawee. 03.
A bill of
exchange payable
after
sight
requires acceptance. 04. Bankers do not get any protection in case of crossed bill
of exchange. 05. A bill of exchange may be drawn in sets. 06.
The drawer has
no right to countermand. |