Learner's definition of DEFAULT 1 [noncount] — used to describe something that happens or is done when nothing else has been done or can be done — usually used in the phrase by default No one else wanted the job, so he became the club's president by default. If this balance doesn't get paid off, the government can then withhold tax refunds or any federal benefits that the borrower receives. Default can also be referring to the dance they do that is given to them. Secured personal loan : Defaulting on a secured personal loan could cause you to lose the collateral, such as cash in a savings account, used to secure the loan. by default ⇒ in the absence of opposition or a better alternative: he became prime minister by default in default of ⇒ through or in the lack or absence of judgment by default ⇒ a judgment in the plaintiff's … Some pros are hidden among Defaults.Defaults are known for doing the same dance over and over. That meaning is failing to do something one is legally obligated to do: a default or breach of a contract, for example, or a default on an legal obligation to pay a bill, and so on. default definition in English dictionary, default meaning, synonyms, see also 'in default of',judgment by default',defaulter',dealt'. Sample 1 Sample 2 Sample 3 Find more ways to say default, along with related words, antonyms and example phrases at Thesaurus.com, the world's most trusted free thesaurus. b. el valor predeterminado (m) means that a noun is masculine. Translation for 'default' in the free English-Polish dictionary and many other Polish translations. Default is an adjective that describes a standard setting or configuration. Get the details here. default the failure to do that which ought to be done. The term "default" should be distinguished from the terms "insolvency", illiquidity and "bankruptcy": Default: A debtor has passed the payment deadline on a debt they were due to pay. Insolvency: A legal term meaning a debtor is unable to pay their debts. Far too many people are hardcoded to no or maybe as their default setting. default in The bank can seize the asset in the event of a default in payment. While there may be very good reasons and empirical evidence for this tendency, backed by the adage the road to hell is paved with good intentions, people who default to yes generally get more out of life by being predisposed to taking risks. See more. ‘the company is already in default on its loans’. There are actually two answers, depending on the context in which the term "default" is used. The default location is where a program defaults to first when wanting to save or install a program. If you default on your secured credit card payments, the card issuer will typically apply your security deposit to the amount you owe. Lenders will deem a loan in default when you haven't paid the minimum required payment for a certain number of months in a row, as detailed in your loan contract. Another word for default. Some legislation may provide for special notice to be given as in consumer credit or in relation to mortgages. In contract law, when one of the parties to a contract fails to fulfill his obligation in the contract, he is said to be \"in default.\"From a legal standpoint, although both negligence and being \"in default\" result from some form of failure on the side of a party to a contract and can be grounds for a breach of contract lawsuit, the two terms differ in meaning. Defaulting means failing to live up to one's obligation. Default is also a failure to pay a financial obligation. Default definition, failure to act; inaction or neglect: They lost their best client by sheer default. Payment Default means any default in the payment of principal of, premium, if any, interest on, or other amounts payable on, or in connection with Senior Debt, irrespective of whether such default in payment results from a failure to pay any amount when originally scheduled to be paid or upon acceleration or otherwise. 2. An example of a default is when the user opens a music file and the computer automatically opens it in iTunes. Illiquidity: A debtor has insufficient cash (or other "liquefiable" assets) to pay debts. A default can occur on secured debt such as a mortgage loan secured by a house or a business loan secured by a company's assets. DEFINITIONS 2 1 if something happens by default, it happens only because someone does not do something else If nobody stands against him, he will become leader by default. For federal student loans, the first consequence of default is that "acceleration" kicks in, meaning that the entire loan balance is due immediately. ‘Initially, I wasn't even sent the paperwork until my loans were in default.’. Learn more. Default judgments are most often awarded to plaintiffs when the defendant fails to respond, but a defendant may be awarded such a judgment in the event the plaintiff fails to attend a hearing or trial, or fails to meet certain deadlines for filing documents. Usually, the notice gives the debtor about two weeks to cover the missed payments. Defaulting on a loan means that you have failed to make sufficient payments for an extended period. In computing, "default" may describe several things, including hardware , software , and network configurations. The failure to make payments on a debt. One may default on any debt, such as a mortgage or a bond. For example, with Microsoft Windows programs, the default location for installing programs is the \"Program Files\" folder and the default location for documents is the \"My Documents\" folder. If you don't start saving money now, while you're young, you'll be … Thus, failure to make payment under a contract is a default; more specifically, failure to repay or otherwise comply with the terms of a loan agreement are acts of default. 1. As a verb, it means "to fail to pay." A default judgment could spell the end of a lawsuit, or the defendant could have time to ask that the judgment be "set aside" so the case can proceed. Enrich your vocabulary with the English Definition dictionary We use cookies to enhance your experience on our website, including to provide targeted advertising and track usage. Thrown around a lot in divorce cases, but what does it mean in Fortnite who is garbage! 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To enhance your experience on our website, including hardware, software, and configurations... Or maybe as their default setting known for doing the same dance over over... In computing, `` default '' gets thrown around a lot in divorce cases, what! Depending on the context in which the term `` default '' gets thrown around a lot in divorce,... Of a default in the event of a party fails to respond to a divorce petition within time.
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