A form of currency in which the value of the currency comes from the material of which it is made. gold, silver, grains, livestock, salt, and other materials have served as commodity money at different points in history. Most modern currencies, such as the Euro or the United States dollar, are fiat money, or money whose value is based on government guarantees but has no inherent value.
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Joint and Several Liability
original issue discount (OID)
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