Checkout Settings:
- Enable Guest Checkout: This option allows you to checkout without login. Users will not be created if you tick this option.
- Show Terms and Conditions: This option will show the terms and condition field so that user must accept terms condition to proceed the checkout. But make sure terms and conditions page is setup from Setting->General->Pages option.
- Show Privacy Policy: This option will show the privacy policy field so that user must accept privacy policy to proceed the checkout. But make sure privacy page is setup from default WordPress Settings->Privacy.