Through all the ups and downs of the past few months, Mitt Romney has remained the default frontrunner—until now.
A default is declared if the taxes are not paid by April of the following year.
Innovative community-based models also can change our default choices for how we live, move, eat, and play.
early 13c., "offense, crime, sin," later (late 13c.) "failure, failure to act," from Old French defaute (12c.) "fault, defect, failure, culpability, lack, privation," from Vulgar Latin *defallita "a deficiency or failure," past participle of *defallere, from Latin de- "away" (see de-) + fallere "to deceive, to cheat; to put wrong, to lead astray, cause to be mistaken; to escape notice of, be concealed from" (see fail (v.)). The financial sense is first recorded 1858; the computing sense is from 1966.
late 14c., "be lacking, be missing," also "become weak," from default (n.). Related: Defaulted; defaulting.
Failure to pay a debt when it is due.