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Bookmark or Share- DEFAULT definition and meaning | Collins English Dictionary1. verb. If a person, company, or country defaults on something that they have legally agreed to do, such as paying some money or doing a piece of work before a particular time, they fail to do it. [law] The credit card business is down, and more borrowers are defaulting on loans.
- Default Definition & Meaning | Britannica DictionaryBritannica Dictionary definition of DEFAULT. 1. [noncount] — used to describe something that happens or is done when nothing else has been done or can be done — usually used in the phrase by default. No one else wanted the job, so he became the club's president by default. Their decision was made by default.
- Default: What It Means, What Happens When You Default, ExamplesWhat Is a Default? Default is the failure to make required interest or principal repayments on a debt, whether that debt is a loan or a security....
- Would a U.S. default really be that bad? Yes — and here's why : NPRThe U.S. can seem like the country that cried debt ceiling, but many say this year, the country might actually default. What happens to the economy and to regular people if it defaults?
- Default Definition & Meaning - Merriam-Webster1. : failure to do something required by duty or law : neglect. 2. archaic : fault. 3. economics : a failure to pay financial debts. was in default on her loan. mortgage defaults. 4. a. law : failure to appear at the required time in a legal proceeding. The defendant is in default. b. : failure to compete in or to finish an appointed contest.
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