The term 'the quality of being open and honest' can be summarized by the word 'CANDOUR', which is a 7-letter word. CANDOUR is defined as the quality of being frank, sincere, and straightforward in speech or expression. It is often used to describe someone who speaks openly and honestly about their thoughts and feelings. CANDOUR is an important trait in many relationships, as it allows for trust and understanding to develop between two people.