The subjects of “fundamental” and “allegoric” have been in the focus of the Islamic commentators and researches for centuries. The seventh verse of the third Sura (Al-i-Imran) initiates the discussion. However it is not explicitly discussed which verses are fundamental and which ones allegorical. Nevertheless The Quran gives an important warning to be catious about using (misusing) allegorical verses. Avoiding the discords resulting from misinterpretations and hidden meanings that could lead to misunderstandings, diversions, social, and specially political conflicts, requires the mentioned concepts to be further scrutinized. This paper seeks to deal with the concepts themselves, study their mutual relations, point to their roles in understanding the Quran, and draw some light on their relations to the Quranic – based living.