(finance) The condition of failing to meet an obligation.

(finance) The condition of being an obligation that has not been met.

(electronics, computing) the original software programming settings as set by the factory

A loss incurred by failing to compete.

A selection made in the absence of an alternative.

(often attributive) A value used when none has been given; a tentative value or standard that is presumed.

(law) The failure of a defendant to appear and answer a summons and complaint.

(intransitive) Fail to meet an obligation, such as appearing in court or fulfilling a financial responsibility.

(intransitive) To lose a competition by failing to compete.

(transitive, intransitive, computing) To assume a value when none was given; to presume a tentative value or standard.