default

(redirected from defaulted)
Also found in: Dictionary, Thesaurus, Medical, Legal, Financial, Encyclopedia.
Like this video? Subscribe to our free daily email and get a new idiom video every day!

in default of (something)

Due to the absence or lack of something; through the failure of something. Though it was only a speeding ticket, Janet was imprisoned in default of paying the fine. In default of concrete evidence, the jury was obligated to acquit the defendant of murder.
See also: default, of

default on (something)

To fail to repay a loan on something (which often results in the loss of that thing). If you default on your car loan, your car might get repossessed.
See also: default, on

by default

1. Used to describe an outcome that happens because one has not taken any steps to change or prevent it. If you don't start saving money now, while you're young, you'll be working till you're 90 by default.
2. Used to describe a contest that's outcome is determined by a competitor's absence. If the other team can't field enough players, then we'll win by default.
See also: by, default

default on something

to fail to act in some way regarding something, such as failing to make a payment, thereby losing one's right to the thing in question. You are not going to default on your loan, are you? She defaulted on her mortgage payments and lost the house.
See also: default, on

in default of

Through the failure, absence, or lack of, as in In default of a better solution, we'll have to make do with this one. This term was originally put as for default of, but John Gower had the current wording in Confessio Amantis (1397): "The fish, if it be dry, might in default of water die." [Late 1200s]
See also: default, of

by deˈfault


1 a game or competition can be won by default if there are no other competitors: The other team didn’t even turn up, so we won by default.
2 if something happens by default, it happens because you have not made any other decision or choices which would make things happen differently: It was never my ambition to get into teaching. I became a teacher more by default than by choice.
See also: by, default

in deˈfault of something

(formal) because of a lack of something: They accepted what he had said in default of any evidence to disprove it.
See also: default, of, something

in default of

Through the failure, absence, or lack of.
See also: default, of
References in periodicals archive ?
For example, since the database only covers defaults that occurred since 1980, bonds issued in 1978 that defaulted in 1979 would not appear, resulting in a lower than actual cumulative default rate for that year.
The preamble to the work-out agreement, as well as the agreement itself, clearly and unambiguously demonstrated that the subordination agreement was given in consideration of Chase's forbearance in pursuing its legal remedies to collect a delinquent debt of Fred Kent; and that the new mortgage and the subordination agreement were to act as security if Kent defaulted under the more lenient restructured schedule; and that upon default by Fred Kent of the work-out agreement, the new mortgage and the subordination agreement would remain a valid and enforceable mechanism by which Chase could recover its money.
The DRs are designed to estimate recoveries on a forward-looking basis for distressed and defaulted securities,' said Marion Silverman, Managing Director Fitch Ratings.
Defaulted issues in the first half were trading at an average of 86% of par at the beginning of the year.
Default rates are calculated by dividing the volume of defaulted bonds by the average principal volume outstanding for the period under observation.
NEW YORK -- According to Fitch Ratings' newly issued 2005 Conduit Loan Default Study, an additional 336 CMBS loans defaulted in 2004, bringing the total dollar amount of CMBS loan defaults to $10.
25, 2005, covering about US$102 billion in defaulted bonds (including past-due interest), would be assigned a nondefault rating, likely in the 'CCC' category.
In 2004, 37 issuers defaulted on $10 billion in bonds, down from 100 issuers and $33.
The collateral pool is static at this time with the exception of the ability to sell defaulted securities and equity.
2 billion in the third quarter and just six issuers defaulted on their bond obligations in the quarter.
3 billion defaulted in 2003, bringing the total number of CMBS loan defaults to 1,313 and the cumulative total of defaults to $204.