Explanation:

For an accepted bill:

- Option 1: Primary and unconditional

- Correct. After accepting a bill, the drawee becomes the primary party responsible to pay the bill.

- This liability is “unconditional” because the drawee must pay at maturity, regardless of any external conditions.

- Option 2: Primary and conditional

- Not correct. The drawee’s liability isn’t conditional once they’ve accepted the bill.

- Option 3: Secondary and conditional

- Wrong. “Secondary” means someone else, like the drawer, is first liable, but in an accepted bill, the drawee is the main liable party.

- Option 4: one of these

- Not specific enough; doesn’t identify the exact nature.

Correct Answer: Option 1 – Primary and unconditional.