Differences between cheques and other bills of exchange, Business Law and Ethics

Differences Between Cheques And Other Bills of Exchange

However the following are some of such the differences between like cheques and such other bills of exchange: like;

(a) A cheque is drawn on a drawee acknowledge as "banker" and such cannot be drawn on various other drawee there. a bill of exchange that is not a cheque such can be drawn on anybody, although an individual, although a firm or a body corporate like group.

(b) A cheque is payable such on demand and that cannot be paid upon a fixed or whenever determinable future time also. Further a bill of exchange such is not a cheque that can be drawn payable upon a fixed or whenever determinable future time also.

(c) It is payable on demand, such a cheque cannot legally be admired through the drawee: like Bank of Baroda v Punjab National Bank there. Further a bill of exchange other than a cheque such can be accepted it is not drawn payable on that demand since is payable upon a fixed or determinable future time there.

(d) Moreover a cheque can be crossed whenever other bills of exchange such are not legally crossed however so.

Posted Date: 2/2/2013 8:18:46 AM | Location : United States







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