Assertion: default | /r/HasProperty | failure
Facets:
value: in finance
type: OTHER
Source sentences:
text: 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.
text: Default is the failure to repay a debt including interest or principal on a loan or security.
text: n. if a defendant in a lawsuit fails to respond to a complaint in the time set by law (commonly 20 or 30 days), then the plaintiff (suer) can request that the default (failure) be entered into the court record by the clerk, which gives the plaintiff the right to get a default judgment.