One party taking over responsibility
for the loan of another party; usually lender
approval is needed.

Merriam-Webster Online Dictionary
assumption (noun)
a) the taking up of a person into heaven
b) capitalized August 15 observed in commemoration of the Assumption of the Virgin Mary
a taking to or upon oneself - the assumption of a new position
the act of laying claim to or taking possession of something - the assumption of power
- arrogance pretension
a) an that something is true - assuming
b) a fact or statement (as a proposition, axiom, postulate, or notion) taken for granted
the taking over of another's debts
Merriam-Webster Online Thesaurus
assumption (noun)
something taken as being true or factual and used as a starting point for a course of action or reasoning
given, hypothetical, if, postulate, premise ( premiss), presumption, presupposition, supposition
hypothesis, proposition, theory, thesis; axiom, truism, verity; belief, canon, doctrine, dogma, gospel, law; precept, principle, rule, standard, tenet; basis, foundation, ground; conclusion, deduction, inference; affirmation, assertion, avouchment, declaration; dictum, ipse dixit
assumption (noun)
an exaggerated sense of one's importance that shows itself in the making of excessive or unjustified claims
assumption, bumptiousness, consequence, haughtiness, hauteur, high horse, huffiness, imperiousness, loftiness, lordliness, masterfulness, peremptoriness, pomposity, pompousness, presumptuousness, pretense ( pretence), pretension, pretentiousness, self-consequence, self-importance, superciliousness, superiority, toploftiness
authoritativeness, bossiness, bowwow, brag, dominance, high-handedness; condescension, disdain, scorn; chest-thumping, inflation, self-assertion, side [], snobbery, snobbishness, snobbism, snootiness; attitude, cheek, cheekiness, impertinence, impudence, sauciness; boastfulness, bombast, braggadocio, bravado, strut, swagger, triumphalism, vaingloriousness, vainglory; cockiness, complacence, conceit, egoism, egotism, pride, pridefulness, self-assumption, self-centeredness, self-complacency, self-conceit, self-content, self-contentment, self-opinion, self-partiality, self-satisfaction, smugness, swelled head, vanity; superiority complex
bashfulness, demureness, retiringness, shyness; diffidence, self-distrust, self-doubt, timidity, timidness; lowliness, meekness, mousiness, passiveness, passivity, submissiveness; quietness, reserve, reservedness
humility, modesty, unassumingness, unpretentiousness
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