Distinction between Bills of Exchange and Cheque
Distinction between Bills
of Exchange and Cheque:
|
Bill of Exchange |
Cheque |
|
· This
requires acceptance by the drawee. · This can be
drawn on any person including bank. · Notice of
dishonour is necessary. · A bill of
exchange may be payable either on demand or after a specified period. · A bill of
exchange generally requires stamping. · Bills of
exchange can not be crossed · A time bill
should be presented on the due date. |
·
This does not require acceptance. ·
This can be drawn on Bank only. ·
Notice of dishonour is not necessary. ·
Cheque is always payable on demand ·
This does not require stamping. ·
A cheque may be crossed. ·
A cheque can be presented at any time within 6 months
from the date of cheque. |
Demo Classes of Accounts (CA/CMA/CS/B.Com/11-12th) by CA/CMA Santosh Kumar Sir
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