A demand draft is preferable to a cheque. Justify either for or against.

For the statement — A demand draft is indeed preferable to a cheque.

Justification:

1. No risk of dishonour — In case of a bank draft, the amount along with commission is paid in advance to the bank. Therefore, a draft cannot be dishonoured for insufficient funds, whereas a cheque can be dishonoured if the drawer's account does not have sufficient balance.

2. Cannot be easily stopped — The payment of a bank draft cannot be easily stopped, while the payment of a cheque can be stopped by giving a written notice to the bank.

3. Always payable on demand — A bank draft is always payable on demand and is therefore also called a 'demand draft'.

4. Drawn by a bank — A draft is always drawn by a bank, which lends it more credibility than a cheque drawn by a private person.

5. Convenient and safe — A bank draft is the most convenient and safe means of sending money from one place to another, especially over long distances.