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what is the distinction between Bill of Exchange and a
Cheque
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Answer Posted / eshan goyal
Bills: may be drawn on an person includig a banker.
cheque: must be drawn only on a specified banker.
Bills:It is entitled to 3 days grace period in some cases..
Cheque: is not entitled to any days of grace..
Bills: no concept of crossing exsits..
Cheque: A cheque may be crossed either generally or
specially..
Bill: it cannot be countermanded, before the payment by the
drawer
Cheque: it can be countermanded by the drawer before the
payment..............
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