To default on a debt is to not pay it back. When a company or government defaults on a loan, they are not following through with their promise to pay back the money that they borrowed.
The government is defaulting on its debt, which is why the interest rates are so high.
The company is defaulting on its debt, which is why the stock prices are dropping.
verb
To fail to meet an obligation.
verb
To lose a competition by failing to compete.
verb
To assume a value when none was given; to presume a tentative value or standard.
verb
To fail to appear and answer a summons and complaint.
noun
The act or result of being defaulted, especially a failure to meet a financial obligation.
1
The unpaid loan is now in default.
2
That's the default without the amplification.
3
The above was the default welcome.
4
The booster had a default in it.
5
The problem is the absence of a default.
6
Look at the default rates, not the chatter.
7
The default being the value of one.
8
But the name of the page typically defaults to the singular.
9
By default the counter is shown in the footer of the page.
10
The default behaviour has changed the prescript.