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