default

noun de·fault \ di-ˈfȯlt , dē- ; ˈdē-ˌfȯlt \

Updated on: 12 Apr 2018

Definition of default

1 : 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

lost the game by default

5 a : a selection made usually automatically or without active consideration due to lack of a viable alternative

remained the club's president by default

the default candidate

b computers : a selection automatically used by a program in the absence of a choice made by the user

using the default settings

— in default of

: in the absence of

See default defined for English-language learners

See default defined for kids

Examples of default in a Sentence

The defendant has made no appearance in the case and is in default.
You can enter your own settings or use the defaults.
Which font is the default in that computer program?

Recent Examples of default from the Web

But seemingly small missteps can send a borrower spiraling into default.

— susan dynarski, New York Times, "How to Clean Up the Student Loan Mess," 6 Apr. 2018
And in the absence of Democratic critique, the Friedman view of Saudi Arabia wins a default victory in public discourse.

— jeet heer, The New Republic, "Mohammed bin Salman and the Death of Foreign Policy Debate," 6 Apr. 2018
Privacy advocates have long been critical of Facebook's penchant for pushing people to share more and more information, often through pro-sharing default options.

— barbara ortutay, The Christian Science Monitor, "Most Facebook users may have had public data scraped," 6 Apr. 2018
Nine-Nine’s default direction make the scenes in which Jake and Holt stare down their suspect feel more ominous than the show’s usual vibe.

— caroline framke, Vox, "How sharp editing took Brooklyn Nine-Nine’s “The Box” from good to great," 2 Apr. 2018
The film's manic pixie virtualgirl Art3mis (Olivia Cooke) has more personality by default, which isn't saying much.

— sam machkovech, Ars Technica, "Ready Player One’s film adaptation isn’t even good enough as a kids movie," 29 Mar. 2018
So, for instance, since the rents are federally subsidized by HUD, Ku is technically in compliance with the abatement by default, as Rifkin and his colleagues on the committee explained to the understandably frustrated tenants last week.

— vinny vella, Courant Community, "Vinny Vella: After Nearly A Year Of Waiting, Clay Arsenal Tenants Need Action," 28 Mar. 2018
In science fiction, as in most genres, white masculinity is the cultural default.

— shaan amin, The Atlantic, "The Sprawling, Empathetic Adventure of Saga," 28 Mar. 2018
Westchester Export Capital sued Timeless in federal court in New York last year and since won a default judgment and began recovering some of its losses by taking possession of some of the 51 cars involved in that brokerage scheme.

— bruce vielmetti, Milwaukee Journal Sentinel, "Lawsuit ties Russ Darrow car dealership to Ukrainian con man's China export scheme," 21 Mar. 2018

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'default.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

Origin and Etymology of default

Middle English defaute, defaulte, from Anglo-French, from defaillir to be lacking, fail, from de- + faillir to fail

NEW! Time Traveler

First Known Use: 14th century

in the meaning defined at sense 1

See Words from the same year

default Synonyms

Synonyms

delinquency, dereliction, failure, neglect, negligence, nonfeasance, oversight;

Near Antonyms

compliance, discharge, fulfillment (or fulfilment);

default

verb

Definition of default

intransitive verb

1 : to fail to fulfill a contract, agreement, or duty: such as

a : to fail to meet a financial obligation

default on a loan

b law : to fail to appear in court

c : to fail to compete in or to finish an appointed contest; also : to forfeit a contest by such failure

2 computers : to make a selection automatically in the absence of a choice made by the user

The program defaults to a standard font.

transitive verb

1 : to fail to perform, pay, or make good

default a loan

2 a : forfeit

defaulted the game

b : to exclude (a player or a team) from a contest by default

was defaulted from the tournament

—

defaulter

noun

See default defined for English-language learners

Examples of default in a Sentence

If the borrower defaults, the bank can take the house.
The program defaults to a standard font.

Recent Examples of default from the Web

So these cancer cells defaulted to another developmental pathway — instead of taking advantage of the coding that turns stem cells into gut.

— meghana keshavan, STAT, "Scientists find mini gastrointestinal tract growing inside tumor," 29 Mar. 2018
But defaulting to the idea that only women deal with menstruation just isn't accurate.

— elly belle, Teen Vogue, "Model Kenny Jones Featured in Period Campaign," 16 Mar. 2018
Bankruptcies, tax liens, defaulted student loans, or child support payments that are in arrears would be difficult to overcome and would automatically prevent Camden Homes from being able to get them into a home.

— david taylor, Houston Chronicle, "Home builder finding success in Cleveland market," 12 Mar. 2018
One of the developers defaulted on the bond debt and in 2013 filed for bankruptcy.

— kevin hall and glenn garvin, miamiherald, "How did a young Miami Beach financier snatch a hotel away from Donald Trump? | Miami Herald," 12 Mar. 2018
The once-buoyant economy sank and Mozambique defaulted on its debt last year.

— The Economist, "Africa in the redIncreasing debt in many African countries is a cause for worry," 8 Mar. 2018
Campeau plunged into bankruptcy — the largest in retailing history at the time — and the partnership defaulted on its contract with the city in 1991.

— dan horn, Cincinnati.com, "Reality check: History says replacing Macy's won't be easy," 4 Jan. 2018
Sears said in its annual report that continued operating losses, failure to generate additional liquidity and failure to secure additional funding could lead it to default on its debt.

— lauren zumbach, chicagotribune.com, "Sears slashed more than 50,000 jobs last year," 23 Mar. 2018
According to a June 23 court filing, Ann Howard and Joe Howard Jr. defaulted on a $450,000 loan for their home, at 24 Mountain Road, in Farmington.

— jordan otero sisson, Courant Community, "Apricots Equipment Auctioned Off; Wood-n-Tap To Move In," 21 Mar. 2018

Origin and Etymology of default

see ¹default

NEW! Time Traveler

First Known Use: 15th century

in the meaning defined at intransitive sense 1

See Words from the same year

Financial Definition of DEFAULT

default

noun

What It Is

A default is a violation of a promise to pay debt in agreed amounts at agreed times.

How It Works

Let's assume Company XYZ has a line of credit for $10 million from Bank ABC, and $5 million of that line is outstanding. Company XYZ must make a $25,000 monthly payment on the outstanding debt every month.

Company XYZ is having trouble with the launch of its new product and is dealing with a recall on four of its other products. Sales dropped 75% and cash flow dried up, making it hard to make the debt payments. For a few months, Company XYZ makes late payments, and then after six months it stops making payments altogether. Bank ABC declares Company XYZ in default and demands immediate repayment of the $5 million outstanding principal.

This of course is very hard for Company XYZ to handle, and Bank ABC begins the process of seizing the collateral that secured the debt. Without these assets (let's say they're machinery), Company XYZ cannot continue production and thus closes its doors.

In general, there are six events involved in a default (in this example, we assume the borrower has obtained a mortgage for a house from the lender).

1. The borrower signs a contract agreeing to repay the lender over a period of time, usually in predetermined installments.
2. The borrower misses one or more payments.
3. The lender sends the borrower one or more notices of delinquency.
4. The borrower and the lender try to adjust the repayment schedule so that the borrower is more likely to make at least some of the payments until he or she gets back on his feet. (This process is called special forbearance or mortgage modification.)
5. The borrower still misses payments.
6. The lender sends the borrower a notice of default and initiates foreclosure proceedings.

Why It Matters

Defaults are serious matters, and they are far more serious than simply being overdue in a payment (though this can trigger a lender to declare default). Foreclosure occurs when a lender seizes and sells a borrower's collateral when the borrower has failed to repay the lender. The term is most often associated with real estate.

Defaults do long-term damage to a person's credit report and can hinder a company's ability to raise capital in the future. It is important to note that foreclosure laws vary by state, and they affect the order or duration of these steps. It is also important to note that the federal Fair Debt Collection Practices Act affects foreclosure proceedings by stipulating the methods lenders can use to go after bad debts.

Default risk is the chance that a bond issuer will not make the required coupon payments or principal repayment to bondholders. Many things can influence an issuer's default risk and in varying degrees. Examples include poor or falling cash flow from operations (which is often needed to make the interest and principal payments), rising interest rates (if the bonds are floating-rate notes, rising interest rates increase the required interest payments), or changes in the nature of the marketplace that would adversely affect the issuer (such as a change in technology, an increase in competitors or regulatory changes). The default risk associated with foreign bonds also includes the home country's sociopolitical situation and the stability and regulatory activity of its government.

Source: Investing Answers

DEFAULT Defined for English Language Learners

default

noun

Definition of default for English Language Learners

: a failure to make a payment (such as a payment on a loan)
law : failure to appear in court
computers : a setting, option, etc., that a computer uses if you do not choose a different one

default

verb

Definition of default for English Language Learners

: to fail to do something that legally must be done; especially : to fail to make the payments you must make on a loan, mortgage, etc.
of a computer : to automatically use a particular setting, option, etc., unless you choose a different one

DEFAULT Defined for Kids

default

noun de·fault \ di-ˈfȯlt \

Definition of default for Students

: failure to do something especially that is required by law or duty If we miss the game, we'll lose by default.

default

verb

Definition of default for Students

defaulted; defaulting

: to fail to do something required

He defaulted on repaying the money.

Law Dictionary

default

noun de·fault \ di-ˈfȯlt, ˈdē-ˌfȯlt \

legal Definition of default

1 : failure to do something required by duty (as under a contract or by law): as

a : failure to comply with the terms of a loan agreement or security agreement especially with regard to payment of the debt

b in the civil law of Louisiana : a delay in performing under a contract that is recognized by the other party

Note: A party whose performance under a contract is delayed is not automatically in default. Rather, the law of Louisiana requires that the other party “put him or her in default” by a written or witnessed oral request for performance, by filing suit, or by invoking a specific provision in the contract. Moratory damages may be recoverable for loss caused by the delay.

2 : failure to defend against a claim in court (as by failing to file pleadings or to appear in court) — see also default judgment at judgment 1a

—

default

verb

—

defaulter

noun

— in default

: in the condition of having defaulted

Origin and Etymology of default

Anglo-French defalte defaute lack, fault, failure to answer a summons, from defaillir to be lacking, fail, from de-, intensive prefix + faillir to fail