Precipice

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Precipice [ PRES-uh’-pis ]
 [ noun ]
 MEANING :
 1. a very steep, vertical cliff
2. a perilous or dangerous predicament or situation
 USAGE EXAMPLE 1 :
 Successfully climbing the precipice was every rock climbers dream.
 USAGE EXAMPLE 2 :
 AIG said the company was "disappointed" that competitors were trying to take advantage of the situation, stressing that the mortgage losses that left AIG's parent company on a financial precipice had not undercut policyholders' surplus.

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