Default

What is it? The nonperformance of a duty or obligation that is part of a contract. The most common occurrence of default on the part of a buyer or lessee is nonpayment of money when due. A default is normally a breach of contract, and the nondefaulting party can seek

Added By: Tyler

Send To Friends!

If you'd like to send the Default definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -

We hope you now understand the meaning of Default. If you need any more information on this term, please don't hesitate to contact us.