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  1. judgment by default

    Judgement by default, also known as default judgment, is a judgment entered upon the failure of ... a defendant to appear before a court or answer a complaint. A default is a failure to perform a duty in legal ... proceedings. A default judgment is binding, and the defaulting defendant may not litigate his case or present ...

  2. default

    A default is a failure to fulfill an obligation. Defaulting is most common in regards to ... debtor-creditor law and contract law. Typically, a default leads to judicial proceedings or triggers the ... application of a separate contract provision.  For example, a homeowner might go into default by failing to ...

  3. default judgment

    A default judgment (also known as judgment by default) is a ruling granted by a judge or court in ... or does not appear in court. The default decision may be vacated if the defendant can establish valid ... fails to appear as required in court can be found in default. Unless proof of damages is necessary, the ...

  4. takers in default

    In the context of a power of appointment, the takers in default are the individuals who take if ... the “takers in default clause.” PROPERTY property & real estate law trusts, inheritances & ...

  5. no-answer default judgment

    A no-answer default judgment is a legal ruling (in favor of the plaintiff) issued by a court when ... a party can be found in default if they fail to plead or otherwise defend themselves from a party seeking ... default for good cause. Most state courts have adopted the Federal Rules of Civil Procedure as their own ...

  6. default divorce

    A default divorce is one where a divorce judgment  is entered on the other party's failure to ... in court according to a summons, then a default divorce judgment is entered against the defendant ... spouse. A default divorce often arises when one spouse is unable to find the other, or when the spouse ...

  7. notice of default

    condition of the contract. Although defaults are most common in real estate, they can happen in any contract ... situation. A notice of default can result when a homeowner fails to pay as required under his mortgage or ... deed of trust. In a lease situation, a notice of default can be sent by either the landlord or tenant, ...

  8. post-answer default judgment

    A post-answer default judgment is a legal ruling issued by a court when a defendant, who has ... a default judgment against the defendant.  [Last updated in February of 2024 by the Wex Definitions Team] ...

  9. credit default swap

    A credit default swap (CDS) is a type of  derivative  contract in which two parties exchange the ... risk that some  credit instrument  will go into  default. The buyer of a CDS agrees to make periodic ... credit instrument enters default.   For example, imagine Bob buys $1,000,000 in Blockbuster corporate ...

  10. nil dicit default judgment

    A nil dicit default judgment is a  judgment  for the  plaintiff  after  defendant  fails to file ...

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