Distinguish between Bills of Exchange and Hundi.

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answered Jun 20, 2022 by AnweshaGhosh (45.0k points)
selected Jun 21, 2022 by ChinmaySonje

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Bill of Exchange	Hundi
1. Bill of Exchange is governed by Indian Negotiable Instrument Act, 1881.	1. Hundi is not governed by any Act i.e., the government has no control and interference over it.
2. Bill of Exchange is generally written in the English Language.	2. Hundi is written in Hindi or may be written in any regional language.
3. Bill of Exchange is always unconditional.	3. Bill of Exchange is always unconditional.
4. Acceptance is required in case of a Bill of Exchange.	4. Acceptance is not required in case of a Hundi.
5. Bill of Exchange is universally accepted i.e., it can be used all over the world.	5. The use of Hundi in limited within India.