Distinguish between a cheque and a bill of exchange

Bill of exchange Cheque
·    Can be drawn on any person including a banker.

 

·    Is payable on demand or at a fixed or determinable future time.

 

·    Is discharged if not presented.

 

·        Cannot be crossed.

 

·    Notice of dishonour must be given.

·    May be noted and/or protested.

 

·        May be discounted.

·    Can only be drawn on a banker.

·    It is payable on demand.

·    May be crossed.

·    Notice of dishonour need not be given.

·    Is not discharged by non-presentation.

·    Cannot be noted and/or protested.



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