TenFiftyILuvUGang
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Simple English definitions for legal terms
make default
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A quick definition of make default:
Term: MAKE DEFAULT
Definition: When you don't do something you are supposed to do, it is called a default. To make default means to not do what you are supposed to do. There are two types of default: 1) when you don't pay back money you borrowed and 2) when you don't show up for a court case.
A more thorough explanation:
Definition: To make default means to fail to fulfill an obligation or to not meet a requirement.
Example 1: If you don't pay your credit card bill on time, you will make default and your credit score will be negatively affected.
Example 2: If a borrower fails to make their loan payments, they will make default and the lender may take legal action to recover the money owed.
These examples illustrate how failing to meet a financial obligation can result in making default. It is important to fulfill your obligations to avoid negative consequences.