Explanation:

- Offeror/Promisor: This is the person who makes a proposal or promise, initiating a contractual agreement.

- Offeree or Promisee (Option 3): This is the person to whom the offer is made. They can accept the offer, creating a binding contract.

- Acceptor (Option 1): In contract law, this generally refers to the entity, often a bank, that agrees to honor a bill of exchange.

- Acceptor for Honour (Option 2): This refers to a person who accepts a bill of exchange that has been dishonored, doing so voluntarily for the honor of the drawer or another party.

- Contracting Party (Option 4): Any entity involved in a contract; can be either the offeror or offeree.