Differences: BOE/Cheque

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Law

University/Undergrad

Last updated 7:41 PM on 6/10/26
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5 Terms

1
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Drawee

BOE:Can be drawn on any person or corporate body (including a bank).

Cheque: Can only be drawn on a specified banker.

2
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Payable On

BOE: Can be payable on demand or after a specified time period (e.g., 90 days).

Cheque: On demand.

3
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Acceptance

BOE: Requires acceptance by the drawee before they become liable to pay.

Cheque: Does not require acceptance. The bank pays it immediately if funds are available.

4
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Crossed

BOE: Cannot be crossed.

Cheque: Can be crossed (e.g., "Account Payee Only") for safety and to ensure payment via a bank account.

5
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Stamp

BOE: Must be stamped according to value (except demand bills).

Cheque: Does not require any revenue stamp.