参考答案：

(i) The drawer is the person who has actually instructed the payment to be made. Under Article CH of the Convention the drawer engages that upon dishonour of the bill by non-acceptance or by non-paymment they will pay the bill to the holder, or to any endorser or any endorser’s guarantor who takes up and pays the bill. However the Article also permits the drawer to exclude or limit their liability for acceptance or for payment by an express stipulation in the bill. Such a stipulation is effective only with respect to the drawer and is effective only if another party is, or becomes, liable on the bill. (ii) The drawee is the person on whom a bill is drawn, i.e. the person instructed to make the actual payment. In most cases the drawee will be a bank. However, the drawee is not liable on a bill until they accept it, but on acceptance engages that they will pay the bill in accordance with the terms of his acceptance to the holder, or to any party who takes up and pays the bill (Article D0). Article DA provides that an acceptance must be written on the front or on the back of the bill and requires the signature of the drawee accompanied by the word ‘accepted’ or by words of similar meaning. Alternatively the signature of the drawee is sufficient. (iii) The payee means a person in whose favour the drawer directs payment to be made or to whom the maker promises to pay. If an instrument is payable to two or more payees in the alternative, it is payable to any one of them and any one of them in possession of the instrument may exercise the rights of a holder. In any other case the instrument is payable to all of them and the rights of a holder may be exercised only by all of them (Article A0).