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Default
• The company is in default = the company has failed to carry out the terms of the contract. By default = because no one else will act • He was elected by default = he was elected because all the other candidates withdrew. NOTE : no plural Default : verb : to fail to carry out the terms of a contract, especially to fail to pay back a debt • To default on payments = not to make payments which are due under the terms of a contract Defaulter : noun : person who defaults Business Dictionary Index |
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