The Difference Between a Cheque and Draft Is That

Multiple Choice

The difference between a cheque and draft is that

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