Please Define the Following Key Terms

question 62

Short Answer

Please define the following key terms
-"putting-out" system

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Definitions:

Guarantor

An individual or entity that promises to pay a borrower's debt in the event the borrower defaults on a loan obligation.

Indemnity

A contractual obligation of one party to compensate for the loss or damage suffered by another.

Writing Requirements

Legal stipulations that certain contracts or agreements must be written and signed to be legally binding.

Conditional Sale Contract

An agreement for the sale of goods where the purchase price is paid in instalments and the title of the goods remains with the seller until the full purchase price is paid by the buyer.