Final answer:
The correct answer is option D, the Acceptor for honor, as they are primarily liable once they accept to pay a dishonored bill to protect the honor of the drawer or indorser.
Step-by-step explanation:
An Acceptor for honor is not secondarily liable. Secondary liability in commercial paper, such as a promissory note or bill of exchange, occurs when a person is only liable if the primary party defaults on its obligation. The drawer is the person who writes and signs a draft or bill of exchange, instructing the drawee to pay. The indorser is someone who transfers a negotiable instrument to a third party by signing it.
A payor for honor is a person who, not being the party primarily liable, willingly pays the note or bill on behalf of the defaulting party. The acceptor for honor, on the other hand, steps in to honor a bill when it has not been accepted by the drawee, or after it has been dishonored, by promising to pay the bill at maturity to protect the honor of the drawer or indorser. Once they accept for honor, they become primarily liable, much like the original drawee would have been had they accepted the bill.