Difference between Cheque and Bill of Exchange

Cheque	Bill of Exchange
01. Cheque can only be drawn on bank.	01. Bill of Exchange is drawn on any person, firm, company or public including a bank.
02. A cheque is payable on demand	02. 3 (three) days of grace are allowed to the drawee.
03. There is no question of acceptance.	03. A bill of exchange payable after sight requires acceptance.
04. Bankers get statutory protection in case of crossed cheques.	04.Bankers do not get any protection in case of crossed bill of exchange.
05. A cheque can not be drawn in sets.	05. A bill of exchange may be drawn in sets.
06. The drawer has right to countermand.	06. The drawer has no right to countermand.