Trusted by millions of Kenyans
Study resources on Kenyaplex

Get ready-made curriculum aligned revision materials

Exam papers, notes, holiday assignments and topical questions – all aligned to the Kenyan curriculum.

Distinguish between a cheque and a bill of exchange.

Distinguish between a cheque and a bill of exchange.

Answers


Maurice
(a) A bill of exchange can be drawn on any person including a banker.

A cheque can only be drawn on a banker.

(b) A bill of exchange is payable on demand or at a fixed or determinable future time.

A cheque is payable on demand.

(c) A bill of exchange cannot be crossed.

A cheque may be crossed.

(d) A bill of exchange is discharged if not presented.

A cheque is not discharged by non-presentation.

(e) For a bill of exchange, a notice of dishonour must be given.

For a cheque, a notice of dishonour need not to be given.

(f) A bill of exchange may be noted and/or protested.

A cheque cannot be noted and/or protested.
maurice.mutuku answered the question on May 2, 2018 at 08:23

Answer Attachments

Exams With Marking Schemes

Related Questions