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Cheque
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Bill
of exchange
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1. Cheque is a special type of bill of exchange that must have to be
withdrawn from the bank
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1. Any kind of instrument that can be exchanged instead of money
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2. Cheque can be crossed
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2. Bill of exchange can’t be crossed
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3. There are no grace period on cheque
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3. It has grace period
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4. Cheque is payable on demand
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4. Bill of exchange is not payable on demand
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Wednesday, September 21, 2016
Cheque VS Bill of exchange
