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bigcaat bigcaat
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6 years ago
The difference between a cheque and draft is that
a. the drawee on a cheque is a bank or financial institution, whereas the drawee of a draft may be a financial institution or bank.
b. a cheque is a bill of exchange drawn against a bank that is payable on demand, whereas a draft is not payable on demand.
c. a cheque is a bill of exchange drawn against a person that is payable on demand, whereas a draft is drawn against a financial institution.
d. a cheque is not a negotiable instrument, whereas a draft is a negotiable instrument.
e. a cheque is a bill of exchange, whereas a draft is not a bill of exchange.
Textbook 
The Law and Business Administration in Canada

The Law and Business Administration in Canada


Edition: 14th
Authors:
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Existence87Existence87
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