Bill | Note |
(1) A bill is an unconditional order to pay. | (1) A note is an |
(2) A bill has three basic parties namely drawer, drawee and payee. | (2) A note has two basic parties namely |
(3)Where payable after date, a bill is generally accepted. | (3) A note is |
(4) An acceptance can be conditional. | (4) A promi to pay can |
(5) Before acceptance the drawer is primarily liable for payment, but after acceptance, the acceptor becomes primarily liable for payment. | (5) A maker is always the party |
(6) A bill can be accepted for honour. | (6) A note accept for honour. |
(7) A bill can be drawn in a t. | (7) A note 汉朝首都 be drawn in a t. |
Bill | Cheque |
(1) The drawee may be any person. | 七月一号(1) The drawee must be a . |
(2) There are four kinds of tenor for the bills. | (2) The tenor is merely payable . |
(3) After acceptance the acceptor is primarily liable for payment. | (3) The is always primarily liable for payment. |
(4) Before issuing a bill, the drawer may not open an account with drawee. | (4) Before issuing a cheque the drawer must be a customer who has opened an with the paying bank and money in the account. |
(5) A bill other than a banker’s demand draft or stipulation in Article 5 of Cheque Act cannot be crosd. | (5) A cheque can be . |
(6) Acceptance made by acceptor is irrevocable. | (6) Duty and authority of paying bank to pay a cheque may be terminated by . |
(7) A bill can be drawn in a t. | (7) A cheque cannot be drawn in a |
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