Distinguish between a cheque and a bill of exchange.

      

Distinguish between a cheque and a bill of exchange.

  

Answers


Maurice
(a) A bill of exchange can be drawn on any person including a banker.

A cheque can only be drawn on a banker.

(b) A bill of exchange is payable on demand or at a fixed or determinable future time.

A cheque is payable on demand.

(c) A bill of exchange cannot be crossed.

A cheque may be crossed.

(d) A bill of exchange is discharged if not presented.

A cheque is not discharged by non-presentation.

(e) For a bill of exchange, a notice of dishonour must be given.

For a cheque, a notice of dishonour need not to be given.

(f) A bill of exchange may be noted and/or protested.

A cheque cannot be noted and/or protested.
maurice.mutuku answered the question on May 2, 2018 at 08:23


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