Examlex
When data are processed upon receipt and immediately put into the data-processing system,the firm is using a(n)____________________ processing system.
Obligor
An obligor is a person or entity legally obliged to provide a benefit or payment to another in a contractual agreement.
Collateral Contracts
Collateral contracts are supplementary agreements made in addition to a primary contract, which impose additional obligations or conditions related to the primary contract's terms.
Guarantor
An individual or entity that agrees to be responsible for another's debt or contractual obligations if the original party fails to meet their terms.
Principal Debtor
The main party obligated to repay a loan or debt.
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