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nounan option that is selected automatically unless an alternative is specified
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nounloss resulting from failure of a debt to be paid
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nounact of failing to meet a financial obligation
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verbfail to pay up
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"he lost the game by default"nounloss due to not showing up
Definition that contains default
- security property that your creditor can claim in case you default on your obligation
- process a writ issued by authority of law; usually compels the defendant's attendance in a civil suit; failure to appear results in a default judgment against the defendant
- guarantee a collateral agreement to answer for the debt of another in case that person defaults
- summons a writ issued by authority of law; usually compels the defendant's attendance in a civil suit; failure to appear results in a default judgment against the defendant
- foreclosure the legal proceedings initiated by a creditor to repossess the collateral for loan that is in default
- repossession the action of regaining possession (especially the seizure of collateral securing a loan that is in default)
- surety property that your creditor can claim in case you default on your obligation
- guaranty a collateral agreement to answer for the debt of another in case that person defaults
- tontine a form of life insurance whereby on the death or default of a participant his share is distributed to the remaining members
- tax lien lien of which a tax collector may avail himself in default of taxes (analogous to a judgment lien)