IGNOU BCOC 133 2025 - Differentiate between a bill and a cheque.

Question

Differentiate between a bill and a cheque.

17 Nov 2025

Answer :

Word Count : 271

A bill and a cheque are both negotiable instruments used in commercial transactions, but they have distinct features and functions under business law. A bill, often referred to as a bill of exchange, is a written order from one party, called the drawer, directing another party, the drawee, to pay a certain sum of money to a third party, known as the payee, either on demand or at a fixed

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