Identify and State the Historical Significance of the Following

question 38

Short Answer

Identify and state the historical significance of the following:
-Massasoit

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Definitions:

Surety Agreement

A contract where one party (surety) guarantees the performance or obligations of a second party (principal) to a third party (obligee).

Collateral

A borrower's asset that is given to a lender to secure the repayment of a loan.

Default

The failure to fulfill an obligation, especially failing to pay back a loan on time.

Surety

is a person or entity that takes responsibility for another's performance, such as fulfilling the terms of a contract or repaying a loan.