(finance) The condition of failing to meet an obligation. / (finance) The condition of being an obligation that has not been met.

(intransitive, law) To fail to appear and answer a summons and complaint. / (intransitive, finance) To fail to fulfill a financial obligation.

An approach or situation in which something occurs by default, without being explicitly introduced.

Synonym of defaulter

plural of defaultant

(law) To fail to appear or answer.

A binding legal judgment in favor of either litigant in a lawsuit based on some failure to take action by the other party.

plural of default judgement

plural of credit default option

(finance) A credit derivative contract between two counterparties, whereby the buyer (seller of risk) makes periodic payments to the seller (buyer of risk) in exchange for the right to a payoff if there is a default or other credit event in respect of a third party called reference entity.