Question

definition and features of bank draft

Answer 1

BANK DRAFT :-
It is a written order by one branch of bank to another branch of the same bank to pay certain sum of money on demand to the person named.


Features of Bank Draft :-

1. It is conditional order for payment.

2. It is drawn by one branch to another branch.

3. The bank of the two branches will be same is payable on demand.

4. It is payable on demand.

5. The amount specified is written on it.

Answer 2

Definition and features of bank draft

Explanation:

• A banker's draft is also called as banker's check that is provided to a customers of a bank and is drawn to the other banks through the bank and it represents an instruction to a sum of money from the drawers to the payee's account.

• The sum of money payable to the bankers drat must be certain.

• The Payee of the draft must be certain.

• Its an unconditioned instrument that contains an order to pay.

• A bank's draft is safer than a personal check when accepting a large sum of money.

• The bank draft is not transferable.

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• brainly.in/question/1814120 answered by Anshihary.