MLchartDataset catalogue

Default

Term · Law · MLC-T-LAW-001522

A failure to fulfill an obligation or perform a duty, especially a financial one, such as failing to make a loan payment or appear in court. In contract law, it signifies a breach of the terms agreed upon by the parties. This can lead to legal consequences, including penalties, foreclosure, or a default judgment.

Table 1. Record
IdentifierMLC-T-LAW-001522
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-001522",
  "term": "Default",
  "field": "Law",
  "definition": "A failure to fulfill an obligation or perform a duty, especially a financial one, such as failing to make a loan payment or appear in court. In contract law, it signifies a breach of the terms agreed upon by the parties. This can lead to legal consequences, including penalties, foreclosure, or a default judgment.",
  "url": "https://mlchart.com/terminology/law/default/"
}

Record 1,387 of 5,441 in Law terminology (MLC-0107). Request the full dataset.