Difference between Cheque vs Bill of Exchange

Before analyzing the difference between Cheque and Bill of Exchange, let us understand the definition of both the terms to show some light on it.

According to Section 6 of the Negotiable Instruments Act, “Cheque is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand”.

According to Section 5 of the Negotiable Instruments Act, “Bill of Exchange is an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of a certain person or to the bearer of the instrument”.

Below are the distinguish / difference between Cheque vs Bill of Exchange to understand more about these features of Cheque and Bill of Exchange:

Difference Between Cheque vs Bill of Exchange Subramoneyplanning.blogspot.com

Hope this will be clear enough to see the distinguish / difference between Cheque vs Bill of Exchange.

Read More

Highlights of Union Budget 2019-20

Finance Minister Smt. Nirmala Sitharaman presented the maiden budget 2019-20 of newly formed Modi 2.0 government on Friday 5th Jul 2019 which was good for middle class.

She mentioned the budget was presented with 10 years vision in mind. Below are the 16 key takeaways and highlights of Union Budget 2019-20:

1) Indian Economy to achieve 3 Trillion Dollar Economy by 2019-20 and most likely to achieve as 5 Trillion Economy in few years. This would be great achievement.

2) Startup India Scheme to be continued till 2025. New programmes to be exclusively introduced for start-ups on DD Channel.

Read More