This section of the book is from the "Canadian Banking Practice" book, by John T. P. Knight.
Question 161.— A cheque dated 4th November, contains in the body the following instructions : " On 20th November pay $50." Are these instructions binding, and is the drawee entitled to days of grace?
Answer.—This is a bill of exchange payable on 20th November, with three days' grace. It is not a cheque, because it is not payable on demand.