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What are the Five Pillars of Islam? Include a brief description.
- Profess that there is no god but Allah and his messenger and prophet is Muhammad.
- Pray five times a day.
- Share what you have with people who are less fortunate.
- During the month of Ramadan,abstain from personal needs,drinking,and eating from dawn to dusk (as one's health permits).
- Conduct at least one pilgrimage to the holy city of Mecca (if within one's capacity).
Perfection
The series of legal steps a secured party takes to protect its right in collateral from other creditors that want to have their debts returned through the same collateral.
Possession
The act of having or holding property in one's control; this can range from ownership of land to possession of items or goods.
Security Agreement
An agreement in which a debtor gives a secured interest to a secured party.
Collateral
The property that is subject to a secured interest.
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