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All of the Following Terms Are Associated with the Dialog

question 31

Multiple Choice

All of the following terms are associated with the dialog system EXCEPT


Definitions:

Creditor Beneficiary

A third party that benefits from a contract made between two other parties, primarily involving debt repayment.

Life Insurance Policy

A contract between an insurer and an insured, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.

Bank

A financial institution licensed to receive deposits, offer loans, and provide various financial services to individuals and businesses.

Novation

The act of replacing an old contract with a new one, substituting a new party into an existing agreement.

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