Default Meaning With Example

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.

Default meaning with example. In finance default is failure to meet the legal obligations or conditions of a loan for example when a home buyer fails to make a mortgage payment or when a corporation or government fails to pay a bond which has reached maturity a national or sovereign default is the failure or refusal of a government to repay its national debt. If something happens by default it happens only because something else which might have. To fail to do something such as pay a debt that you legally have to do.

The verb to default means to fail to repay a loan. Meaning pronunciation translations and examples. In general there are six events involved in a default in this example we assume the borrower has obtained a mortgage for a house from the lender.

The biggest private default in history is lehman brothers. To fail to do something such as pay a debt that you legally have to do. Change your default dictionary to american english.

Default judgment is a court judgment in favor of either party when the opposing party fails to respond. The borrower misses one or more payments. Default judgment defined and explained with examples.

Definition and synonyms of by default from the online english dictionary from macmillan education. The borrower signs a contract agreeing to repay the lender over a period of time usually in predetermined installments. The noun default refers to the failure to fulfil an obligation.

A default in computer science refers to the preexisting value of a user configurable setting that is assigned to a software application computer program or device such settings are also called presets or factory presets especially for electronic devices. In the world of business and finance it usually refers to failure to pay back a loan.