COLLUSION Definition

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COLLUSION is a secret agreement between two or more parties to commit fraud or deceit.

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CHECK DIGIT is a redundant digit added to a code to check accuracy of other characters in the code.

SECURED LIABILITY is a liability that has a degree of protection towards satisfaction if unpaid because the debtor has pledged personal/company assets towards satisfaction of that liability; e.g., a property mortgage is a secured liability because the mortgage holder has a guarantee through a lien on the property.

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