Cheque and promissory note
Querist :
Anonymous
(Querist) 16 September 2011
This query is : Resolved
Sir,
Though i know the difference between the a cheque and promissory note, may u please provide me a case law which points to the distinction? Any supreme court/high court judgement with citation. Please Thanks in anticipation. Regards
prabhakar singh
(Expert) 16 September 2011
yes very good and very surprising question.!
Guest
(Expert) 16 September 2011
You know the difference but still want to know the same. Strange enough. I don't know why you need SC/HC judgment just to know the difference, whereas both instruments are of quite a different nature.
However for your information, in simple words, in cheque you order your banker to pay some amount out of your available bank balance on presentation of the instrument, whereas in promisory note, as a debt instrument, you simply make a promise to pay any amount on some future date to come.
R.Ramachandran
(Expert) 16 September 2011
Unfortunately, people who know that water and fire are distinct; sun and moon are different; male and female are different; head and leg are different do not approach Supreme Court to get clarification on these basic facts. Therefore the chances of Supreme Court citation deciding or enumerating these differences will be quite rare rather impossible.
An attempt has been made to enumerate the general differences between a promissory note and cheque in the attached table.
Shastri J.K.
(Expert) 16 September 2011
I agree with mr.PS Dhingra,
Chanchal Nag Chowdhury
(Expert) 18 September 2011
Where the language of the statute is clear why do U require case laws? Check any elementary book of commerce & know the distinction.
