defaults of payment

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• labor and material payment bond — A contractor s bond which guarantees the owner that all bills for labor and materials contracted for and used by the contractor will be paid by the surety if the contractor defaults. Standard Acci. Ins. Co. v Rose, 314 Ky 233, 234 SW2d 728 …   Ballentine's law dictionary

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• Default — 1. The failure to promptly pay interest or principal when due. Default occurs when a debtor is unable to meet the legal obligation of debt repayment. Borrowers may default when they are unable to make the required payment or are unwilling to… …   Investment dictionary

• Del Credere Agency — In business law, a del credere agency is a type of principal agent relationship wherein the agent acts not only as a salesperson or broker for the principal, but also as a guarantor of credit extended to the buyer. If the buyer is unable to pay… …   Investment dictionary

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• participations — may be of two types: • Funded participation a deposit placed with a lender under a bilateral or syndicated loan where payments of interest and repayments of principal are dependent on corresponding payments being made under the loan. • Risk… …   Law dictionary

• wife starver — /ˈwaɪf stavə/ (say wuyf stahvuh) noun Colloquial a man who defaults on payment of maintenance (def. 4) …  

• foreclose — v.tr. 1 (also absol.; foll. by on) stop (a mortgage) from being redeemable or (a mortgager) from redeeming, esp. as a result of defaults in payment. 2 exclude, prevent. 3 shut out; bar. Derivatives: foreclosure n. Etymology: ME f. OF forclos past …   Useful english dictionary