If the cheque is crossed A/c payee only and payable to yourself, you're unlikely to be able to cash it and you can't transfer it over to someone else.
If the cheque bounces, either as payment stopped or for lack of funds there is little you can do
I'd also be reluctact to accept a draft, especially from complete strangers, there is a known and long running scam in Ireland of cars being sold by private dealers and the seller getting a worthless counterfeit draft