Default

Business / Real Estate / Default: 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 legal remedies to recover any loss. Defaults in long-term leases or contracts for deed other than nonpayment might be failure to pay real estate taxes, damage to the property and so forth.

Other Words for Default

Default Verb Synonyms: failure, fault, defect, neglect, negligence, dereliction, lapse, oversight, non-performance, non-fulfilment, inaction
Default Noun Synonyms: non-payment, delinquency
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Notice Of Default

Business / Real Estate / Notice Of Default: A notice to a defaulting party announcing that a default has occurred. The defaulting party is usually provided a grace period during which to cure the default. Notices of default are frequently provi MORE

Cross-Default

Business / Finance / Cross-Default: Describes the volatility of returns on international investments caused by events associated with a particular country as opposed to events associated solely with a particular economic or financial ag MORE

Default Risk

Business / Finance / Default Risk: A differential in promised yield that compensates the investor for the risk inherent in purchasing a corporate bond that entails some risk of default. MORE

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