Which among the following is / are the main difference (s) between a cheque and a demand draft?
1
Demand drafts are always paid to a specified party but cheques can be paid to bearers also.
2
Demand Drafts are issued by a bank but cheques are issued by an individual or any organization.
3
Demand Drafts are payable all over India but cheques are payable only at a specified location.
4
Both 1 and 2