The Difference Between a Cheque and Draft Is That

question 2

Multiple Choice

The difference between a cheque and draft is that

• A)the drawee on a cheque is a bank or financial institution,whereas the drawee of a draft may be a financial institution or bank.
• B)a cheque is a bill of exchange drawn against a bank that is payable on demand,whereas a draft is not payable on demand.
• C)a cheque is a bill of exchange drawn against a person that is payable on demand,whereas a draft is drawn against a financial institution.
• D)a cheque is not a negotiable instrument,whereas a draft is a negotiable instrument.
• E)a cheque is a bill of exchange,whereas a draft is not a bill of exchange.

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Definitions:

Articles of Capitulation

Formal agreements in military conflicts for the surrender of a party, often detailing the terms of surrender and treatment of captives.

Dutch

Referring to something of or related to the Netherlands, its citizens, or their language.

English Military

The armed forces of England, which have historically played significant roles in both national defense and overseas expansion.

English Occupation

The period or instance of England or its people establishing control or settling in another territory or country.