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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