A cheque is a bill of exchange because of the same features it possesses with a bill of exchange. Some of the features are:
- The cheque is an unconditional order lust like a bill of exchange.
- Like a bill of exchange, it must be signed by the person who draws it.
- The cheque is in writing and not oral.
- Like a bill of exchange, the cheque is addressed from one person to another.
- The cheque requires the bank to pay a certain sum of money on demand.
- The cheque may be made payable to a specified person, or to his order, or- to bearer.
- The time of payment is specified in a cheque.