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What is the difference between demand draft and cheque |
| Answer» \tChequeDemand 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.\t\xa0 | |