Difference Betwixt A Neb Of Telephone Commutation In Addition To Cheques

Friends, as well as hence far nosotros stimulate got discussed almost Bill of Exchanges as well as Cheques. As nosotros stimulate got already mentioned, fifty-fifty though a banking concern correspond is like to Bill of Exchange notwithstanding they stimulate got to a greater extent than or less differences. Have a look,

  1. Drawee :
    1. Cheque : The drawee of a banking concern correspond is e’er a Bank.
    2. Bills of Exchange : Any ane tin live on drawee inward the representative of Bill of Exchange.
  2. Form : 
    • Cheque : A banking concern correspond is e’er drawn on a printed form.
    • Bills of Exchange :  A nib necessitate non live on drawn on a printed form.
  3. Acceptance : 
    • Cheque : The drawee (banker) necessitate non bring a cheque.
    • Bills of Exchange : Acceptance past times the drawee is essential.
  4.  Supposition :
    • Cheque : A banking concern correspond is e’er supposed to live on drawn against the funds inward the hands of the banker.
    • Bills of Exchange : There is no such supposition.
  5. Time of Payment :
    • Cheque : A banking concern correspond is an musical instrument for immediate payment.
    • Bills of Exchange : It is drawn for a specified menses as well as and hence it is intended for circulation. Therefore it is entitled to days of grace.
  6. Period of Liability :
    • Cheque : The liability of the drawer continues for half-dozen months.
    • Bills of Exchange :Unreasonable delay inward the presentation volition discharge the bill.
  7.  Stamp Duty :
    • Cheque : A banking concern correspond is complimentary from postage stamp duty.
    • Bills of Exchange : A nib is dependent area to postage stamp duty.
  8. Sets :
    • Cheque : It is non drawn inward sets.
    • Bills of Exchange :Foreign bills are e’er drawn inward sets.
  9.  Crossing :
    • Cheque : It may live on crossed to ensure safety.
    • Bills of Exchange : It cannot live on crossed.
  10. Countermanding :
    • Cheque : A banking concern correspond may countermanded.
    • Bills of Exchange : Countermanding of a nib is non possible.
  11. Protest :
    • Cheque : It is non protested or noted on dishonor.
    • Bills of Exchange : It is commonly protested as well as noted for dishonor.
  12. Notice of Dishonor :
    • Cheque : In representative of dishonor, observe of dishonor to the drawer is non essential.
    • Bills of Exchange : Notice of dishonor must live on sent to concord the political party liable.
  13. Statutory Protection :
    • Cheque : Statutory Protection every bit given nether Sec. 85 as well as Sec. 131 of the Negotiable Instruments Act applies alone to cheques.
    • Bills of Exchange :Statutory protection is non available inward the representative of bills.
sponsored links

Leave a Reply