marvin-the-band.com -Default de·fault (dĭ-fôlt′) n. 1. Failure to perform a task or fulfill an obligation, especially failure to meet a financial obligation: in default on a loan. 2. Law
Define Default at dictionary.com. Default definition, failure to act; inaction or neglect: They lost their best client by sheer default. See more.
Investopedia. Default is the failure to promptly pay interest or principal when due which occurs when a debtor is unable to meet the legal obligation of debt repayment.
Meaning in the cambridge english dictionary. default definition: 1. to fail to do something, such as pay a debt, that you legally have to do: 2. the thing that exists or happens if you do not change it