ETYM Old Eng. defaute, Old Fren. defaute, defalte, fem., French défaut, masc., Late Lat. defalta, from a verb meaning, to be deficient, to want, fail, from Latin de- + fallere to deceive. Related to Fault.
1. Act of failing to meet a financial obligation; SYN. nonpayment, nonremittal.
2. Loss due to not showing up.
The value(s) or option(s) that are assumed during operation when not specified.
ETYM French délai, from Old Fren. deleer to delay, or from Latin dilatum, which, though really from a different root, is used in Latin only as a p. p. neut. of differre to carry apart, defer, delay. Related to Tolerate, Differ, Delay.
1. The act of delaying; SYN. holdup, detention.
2. Time during which some action is awaited; SYN. hold, time lag, postponement, wait.