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English definition of “default”

default

noun [C or U] (FAIL)    /dɪˈfɒlt/ /ˈdiː.fɒlt/ US  /-ˈfɑːlt/
a failure to do something, such as pay a debt , that you legally have to do: Defaults on loan repayments have reached 52,000 a month . Any default on your mortgage repayments may mean you will lose your house . Since they refuse to reply , I think we've won the argument by default (= because of their failure to act ). The default rate (= the number of people failing to do something) is estimated at one in ten of taxpayers .Borrowing, lending and debtFailuresAccidents and disastersHigher and lower points of achievement
(Definition of default noun (FAIL) from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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