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What is the difference between demand …

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What is the difference between demand draft and cheque

    • Posted by Ritika Dixit 6 years, 11 months ago

    CBSE > Class 10 > Social Science
    • 1 answers

    Yogita Ingle 6 years, 11 months ago

    Cheque Demand draft
    (i) Cheque is a negotiable instrument which contains an order to the bank, signed by the drawer, to pay a certain sum of money to a specified person. (i) Demand Draft is a negotiable instrument used for the transfer of money from one place to another.
    (ii) Payable either to order or to bearer. (ii) Always payable to order of a certain person.
    (iii) Cheque is issued by an individual. (iii) Demand Draft is issued by a bank.

     

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