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Law dictionary
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Default

noun

Failing to do something which had been agreed to.

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For example

He was found to be in default of his child care payments.

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For Finance, Commercial law, Common law, and Consumer

Debt securities

Issued share capital

Other useful terms:

Summons

An order by a court that a person attend at a particular court at a stated time on a particular date.

Negligence

lack of proper care to do a duty properly.

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