Accounting · Bills of Exchange

Consider the following statements regarding bills of exchange: Statement 1: A bill of exchange is a formal document where the drawer orders the drawee to pay a specific amount of money, and for the document to be legally binding as a negotiable instrument, it must be in writing, signed by the drawer, and contain an unconditional order to pay a certain sum of money only to a specific person or their order. Statement 2: When a bill is drawn as a 'bill after date,' the maturity date is calculated from the date on which the bill was originally drawn by the maker, regardless of when it was actually accepted by the drawee, but the 3 days of grace must still be added to the period mentioned in the bill. Statement 3: In the event that a bill of exchange is dishonored by non-acceptance or non-payment, the holder must provide a notice of dishonor to all prior parties they wish to hold liable, and failure to do so generally discharges those parties from their liability under the instrument. Which of the following statements correctly identifies the impact of non-notification of dishonor?