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Check |
Bill of Exchange |
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- It may be drawn on any party or
individual.
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- It has three parties - the drawer,
the drawee, and payee.
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- There are three parties - the
drawer, the drawee, and the payee.
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- It is seldom drawn in sets
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- Foreign bills are drawn in sets
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- It does not require acceptance by
the drawee.
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- It must be accepted by the drawee
before he can be made liable to pay the bill.
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- Days of grace are not allowed to a
banker
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- Three days of grace are always
allowed to the drawee.
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- No stamp duty is payable on checks
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- Stamp duty has to be paid on bill of
exchange.
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- It is usually drawn on the printed f
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- It may be drawn in any paper and
need not necessarily be printed.
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