Difference between cheque and bank draft and others
abhijit majumder
(Querist) 08 April 2020
This query is : Resolved
Dear Professional Friends
Section 131A of Negotiable Instruments Act states all the provisions of Chapter XIV of N.I Act will be applicable to
Bank Drafts also.
My query is what is the difference between Cheque and Bank Draft?
Section 138 of NI Act inter alia states a cheque should be deposited within 3 months from the date of its draw.
Is this limitation is applicable to Draft also?
My third query is :
25. When day of maturity is a holiday.—When the day on which a promissory note or bill of exchange is at maturity is a public holiday, the instrument shall be deemed to be due on the next preceding business day.
What is the meaning of " next preceding business day"
Regards
Abhijit Majumder
Rajendra K Goyal
(Expert) 08 April 2020
Repeated query, please avoid repetition
https://www.lawyersclubindia.com/experts/Difference-between-cheque-and-bank-draft-and-others-718011.asp
Raj Kumar Makkad
(Expert) 08 April 2020
What necessitated you to repeat the same query?
Rajendra K Goyal
(Expert) 10 April 2020
An academic query, which is repeated also. Author is requested to avoid.
T. Kalaiselvan, Advocate
(Expert) 11 April 2020
Your same query was answered by many experts, you may visit that thread to know the details.
