The Islamic legal system derived from the religious precepts of Islam, particularly the Koran and the Hadith. It is an Arabic language term meaning a body of moral and religious law derived from religious prophecy.

The responsibility of a person to pay a debt or other financial obligation. If an individual signs a promissory note, that individual usually has full personal liability for the debt. An exception is the unusual situation of a non-recourse individual loan, in which the lender agrees to look only to the collateral for recovery in the event of default.