Default

Default

The nonperformance of a duty, whether arising under a contract or otherwise; failure to meet an obligation when due, such as failure to make mortgage payments as agreed to in the terms of the mortgage.

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Part of Speech: noun
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Blossary:
Industry/Domain: Business services
Category: Relocation
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Related terms

default

Internet; Internet communication

The standard setting, predetermined by your computer, that is engaged when the user fails to denote a specific alternative.

default

Banking; Investment banking

Failure to make required debt payments on a timely basis or to comply with other conditions of an obligation or agreement.

default

Legal services; Family law

If the defendant does not answer the plaintiff's complaint, the plaintiff can finish the case without the defendant's participation by requesting the court to enter a default. ...

default

Personal life; Divorce

Failure to respond in the prescribed manner within a given period of time. The Respondent in a Petition for Dissolution is said to be in default if he or she failed to respond ...

default

Education; SAT vocabulary

The neglect or omission of a legal requirement.

bridge loan

Business services; Relocation

A loan that is provided to an employee by his/her company to assist in purchasing a destination home when the departure home has not yet sold. The loan is typically interest free.

mortgage

Business services; Relocation

A written instrument that creates a lien upon real estate as security for the payment of a specified debt.

market rate

Business services; Relocation

An estimate of the average rate being charged by lenders for conventional, fixed rate mortgage loans.

lump sum program

Business services; Relocation

Monies given to employees in lieu of some or all services traditionally provided to relocating employees to facilitate the transfer.

long carry

Business services; Relocation

An added charge for carrying articles excessive distances between the mover's vehicle and your residence.

lock

Business services; Relocation

The period, expressed in days, during which a lender will guarantee an interest rate.

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Graphene

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