22:31
yeah there are so many good cuisines in ithaca
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LSDefine
Simple English definitions for legal terms
default
Read a random definition: investment banking
A quick definition of default:
A default is when someone doesn't do what they promised to do. This usually happens when someone owes money and doesn't pay it back on time. When this happens, the person they owe money to can take legal action to get their money back. For example, if someone doesn't pay their mortgage, the bank can take their house away. In court, a default can also mean that someone automatically loses a case because they didn't show up or respond to legal papers.
A more thorough explanation:
A default is when someone fails to do something they were supposed to do. This usually happens when someone owes money to someone else, like a bank or a landlord. For example, if someone doesn't pay their rent on time, they are in default. This means the landlord can take legal action to get the money they are owed.
Another example of default is when someone doesn't show up to court when they are supposed to. This is called a default judgment, and it means the other side automatically wins the case because the person who didn't show up didn't defend themselves.
Overall, default is a serious thing that can have legal consequences. It's important to always fulfill your obligations and do what you're supposed to do.