Difference Between Bill of Exchange and Cheque/Check:

• It is drawn on a banker

• It may be drawn on any party or individual.

• It has three parties - the drawer, the drawee, and payee.

• There are three parties - the drawer, the drawee, and the payee.

• It is seldom drawn in sets

• Foreign bills are drawn in sets

• It does not require acceptance by the drawee.

• It must be accepted by the drawee before he can be made liable to pay the bill.

• Days of grace are not allowed to a banker

• Three days of grace are always allowed to the drawee.

• No stamp duty is payable on checks

• Stamp duty has to be paid on bill of exchange.

• It is usually drawn on the printed f

• It may be drawn in any paper and need not necessarily be printed.

Dear visitor! Do you like this article? If you like, then please bookmark this page and also share with your friends. Thank you for your support.

[Report Errors and Omissions]