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1. The differences between a bill and a promissory note are as follows: BillNote(1) A bill is an unconditional order to pay.(1) A note is an (2) A bill has three basic parties namely drawer, drawee and payee.(2) A note has two basic parties namely (3)Where payable after date, a bill is generally accepted.(3) A note is (4) An acceptance can be conditional.(4) A promise to pay can (5) Before acceptance the drawer is primarily liable for payment, but after acceptance, the acceptor becomes primarily liable for payment.(5) A maker is always the party (6) A bill can be accepted for honour.(6) A note accept for honour.(7) A bill can be drawn in a set.(7) A note be drawn in a set. 2．The differences between a cheque and a bill are as follows: BillCheque(1) The drawee may be any person.(1) The drawee must be a .(2) There are four kinds of tenor for the bills.(2) The tenor is merely payable .(3) After acceptance the acceptor is primarily liable for payment.(3) The is always primarily liable for payment.(4) Before issuing a bill, the drawer may not open an account with drawee.(4) Before issuing a cheque the drawer must be a customer who has opened an with the paying bank and money in the account.(5) A bill other than a banker’s demand draft or stipulation in Article 5 of Cheque Act cannot be crossed.(5) A cheque can be .(6) Acceptance made by acceptor is irrevocable.(6) Duty and authority of paying bank to pay a cheque may be terminated by .(7) A bill can be drawn in a set.(7) A cheque cannot be drawn in a  3．Make choice of whether the following bills are acceptable or not. (1) A bill shows: Pay to ABC Co. providing the goods in compliance with cont