The Difference Between a Cheque and Draft Is That

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.