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Default

An omission; a failure to do that which is anticipated, expected, or required in a given situation.

Default is distinguishable from Negligence in that it does not involve carelessness or imprudence with respect to the discharge of a duty or obligation but rather the intentional omission or nonperformance of a duty.

To default on a debt is to fail to pay it upon its due date. Default in contract law implies failure to perform a contractual obligation.

A default judgment is one that may be entered against a party in a lawsuit for failure to comply with a procedural step in the suit, such as failure to file an answer to a complaint or failure to file a paper on time. A default judgment is not one that goes to the merits of a lawsuit but is procedural in nature.

default

1) n. failure to respond to a summons and complaint served on a party in the time required by law. If a legal answer or other response is not filed, the suing party (plaintiff) can request a default be entered in the record, which terminates the rights of the defaulting party to defend the case. 2) the failure to make a payment when due, which can lead to a notice of default and the start of foreclosure proceedings if the debt is secured by a mortgage or deed of trust. 2) v. to fail to file an answer or other response to a summons and complaint, or fail to make a payment when due. (See: default judgment)

default

the failure to do that which ought to be done. 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. Some legislation may provide for special notice to be given as in consumer credit or in relation to mortgages. When a defendant fails to take certain necessary steps in a court action, the court may give judgment by default.

DEFAULT. The neglect to perform a legal obligation or duty; but in technical language by default is often understood the non-appearance of the defendant within the time prescribed by law, to defend himself; it also signifies the non-appearance of the plaintiff to prosecute his claim.
     2. When the plaintiff makes default, he may be nonsuited; and when the defendant makes default, judgment by default is rendered against him. Com. Dig. Pleader, E 42 Id. B 11. Vide article Judgment by Default, and 7 Vin. Ab. 429; Doct. Pl. 208 Grah. Pr. 631. See, as to what will excuse or save a default, Co. Litt. 259 b.

DEFAULT, contracts, torts. By the 4th section of the English statute of frauds, 29 Car. H., c. 3, it is enacted that "no action shall be brought to charge the defendant upon any special promise to answer for the debt, default, or miscarriage of another person, unless the agreement," &c., "shall be in writing," &c. By default under this statute is understood the non-performance of duty, though the same be not founded on a contract. 2 B. & A. 516.

References in periodicals archive ?
firms and one Mexican firm in our coverage universe defaulted.
It's possible to harness the power of defaults to increase personal decision success, provided you follow these simple steps.
Riskaverse investors demand, and get, higher compensation for shouldering the higher risk represented by governments with limited means or histories of serial default. The yields on bonds issued by serial defaulters are on average significantly higher than the yields paid by less-risky external debt.
The September TTM institutional leveraged loan default rate should fall to 2.2% from 2.3% in August.
Nine Chinese companies have already defaulted on their debt this year according to Standard Chartered (LSE: STAN).
National Treasury released the first draft of the retirement funds default regulations on 22 July 2015.
Data through July 2016 reported a first mortgage default rate of 0.66 percent in July, up one basis point from the prior month.
"For two months, the overall consumer credit default rate has dropped to new lows while the default rate on bank cards has climbed," David M.
"Default history in Africa and the Middle East has been exceptionally low, with only twelve defaults in the Study Data Set," Moody's said in the report.
The problem of moral hazard is most pronounced among for-profit colleges, which enroll 12 percent of students but account for 44 percent of student loan defaults. The worst of them encourage students to borrow heavily, and then give their graduates credentials that seldom lead to jobs with salaries that will allow them to repay their loans.
In the US, the speculative-grade default rate ended the first quarter at
However, what if you changed your mind and you want to set another app to be your default app?