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To "honor your word" means that you mean what you say, you "Walk the walk and talk the talk;" it means your word is your "bond," it has value and worth in equal measure to any tangible, material item and can be used to secure your interest in a transaction or property, i.e., "I give you my word that I will pay you for the pig by Wednesday." It is then up to you to "honor your word" by showing up on or before Wednesday and paying for the pig.

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