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What is Bill of Exchange vs Cheque Explained about?

The document compares and contrasts bills of exchange and cheques. It states that a bill of exchange is a written unconditional order to pay a certain sum of money, while a cheque is a bill of exchange drawn on a bank. The key differences are: 1) bills can be drawn on any person while cheques are always drawn on a bank; 2) bills require acceptance but cheques do not; and 3) bills have days of grace for payment but cheques are payable immediately on demand. The document outlines several other differences in

Author

Archana Patni

Language

EN