default

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default,

n 1. an omission of that which should be done.
v 2. to fail to fulfill an obligation or a promise.
References in periodicals archive ?
The secured transactions law seeks to establish a legal framework for the use of nontraditional collateral, such as accounts receivable and inventory, in applying for loans in financial institutions.
Among their topics are "functional formalism" in the treatment of leases under secured transactions law: comparative lessons from the Canadian experience; non-assignment clauses and their treatment under the secured transactions law instruments of the United Nations Commission on International Trade Law (UNCITRAL); the rights and obligations of the parties to the security agreement according to the UNCITRAL model law on secured transactions; comparative approaches to enforcing secured credit in insolvency; and reverse engineering the law: reforming secured transactions law in Italy.
According to the International Finance Corporation (IFC), the working group was established on 12 December within the framework of the dialogue initiated by the Central Bank of Azerbaijan and the IFC on the reforming the system of secured transactions for facilitating access to fund in the country.
So, what does the term "secured transactions" mean and how do modern secured transactions frameworks contribute to private sector development?
Secured transactions laws should allow such enterprises to use these types of assets as collateral, enabling them to obtain credit at a law cost.
Revised Article 9 was adopted by the Florida Legislature in 2001 and comprehensively revised the law of secured transactions in Florida.
Tiempo TESIC is a complete secure platform for the design of integrated circuits implementing secured transactions such as smartcard chips for banking and ticketing, chips for ePassports or NFC secure elements.
Odinet presents readers with a comprehensive guide to the statutory supplement and commentary regarding Louisiana secured transactions, as well as selected forms used in those transactions.