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

Question

Differentiate between a bill and a cheque.

21 Feb 2025

Answer :

Word Count : 262

A bill and a cheque are both financial instruments used in business transactions, but they differ in several key aspects under business law.

A bill of exchange is a written, unconditional order made by one party (drawer) to another (drawee) to pay a specific amount of money to a third party (payee) on demand or at a fixed future date. It serves as a credit instrument and

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