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Identify/define and explain the significance of the following: Islam.
Collateral Promise
A secondary promise made by a third party to assume responsibility for a debt obligation if the principal obligor fails to perform or pay.
Electronic Record
Information stored in a digital format that can be retrieved electronically.
Contractual Term
A contractual term is a provision or condition that forms part of a contract, outlining the rights and obligations of each party involved.
More than One Possible Meaning
A phrase denoting ambiguity, where a word, phrase, or situation can be understood in more than one way.
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