Meaning Of General Default

Therefore in general legal terms a breach of contract and a default often mean the same thing.

Meaning of general default. The biggest private default in history is lehman brothers. To default on a debt is to fail to pay it upon its due date. Law failure of a party.

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. Default happens when a borrower fails to repay a portion or all of a debt including interest or principal. In default on a loan.

A default could mean not being able to raise funds. A failure to do that which is anticipated expected or required in a given situation. Another word for default.

Default is a general legal term that also means a failure to fulfill a legal commitment. An event of default is a pre specified condition or threshold that if met allows the lender or creditor to demand immediate and full repayment of a debt or obligation. How to use default in a sentence.

General dictionary economics. Default setting synonyms default setting pronunciation default setting translation english dictionary definition of default setting. Failure to perform a task or fulfill an obligation especially failure to meet a financial obligation.