different between default vs liability

English

Etymology

From Middle English defaut, defaute, from Old French defaute (“fault, defect, failure, culpability, lack”), ultimately from Latin de- (“away”) + fallo (“deceive, cheat, escape notice of”).

Pronunciation

• (Received Pronunciation):
  • (noun) IPA^(key): /d??f??lt/, /?di??f??lt/
  • (verb) IPA^(key): /d??f??lt/
• (General American), (cot–caught merger):
  • (noun) IPA^(key): /d??f?lt/, /?di??f?lt/
  • (verb) IPA^(key): /d??f?lt/
• Rhymes: -??lt

Noun

default (countable and uncountable, plural defaults)

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

   He failed to make payments on time and is now in default.

   You may cure this default by paying the full amount within a week.

2. (electronics, computing) the original software programming settings as set by the factory
3. A loss incurred by failing to compete.

   The team's three losses include one default.

4. A selection made in the absence of an alternative.

   The man became the leader of the group as a default.
5. (often attributive) A value used when none has been given; a tentative value or standard that is presumed.

   If you don't specify a number of items, the default is 1.

6. (law) The failure of a defendant to appear and answer a summons and complaint.
7. (obsolete) A failing or failure; omission of that which ought to be done; neglect to do what duty or law requires.

   This evil has happened through the governor's default.

8. (obsolete) Lack; absence.
   • 1820, Charles Maturin, Melmoth the Wanderer, volume 1, page 156:

     one was dragging a great coat from the window, before which it had long hung as a blind, in total default of glass or shutters

9. (obsolete) Fault; offence; wrong act.

Derived terms

• by default
• defaultly

Translations

Verb

default (third-person singular simple present defaults, present participle defaulting, simple past and past participle defaulted)

1. (intransitive) To fail to meet an obligation.

   If you do not make your payments, you will default on your loan.

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

   If you refuse to wear a proper uniform, you will not be allowed to compete and will default this match.

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

   If you don't specify a number of items, it defaults to 1.

4. (intransitive, law) To fail to appear and answer a summons and complaint.

Related terms

• by default
• default on
• in default

Translations

Anagrams

• faulted

Portuguese

Etymology

Borrowed from English default.

Pronunciation

• (Brazil) IPA^(key): /de.?fo/, /de.?fow/, /di.?fow/

Noun

default m (plural defaults)

1. (computing) default (original settings)
2. (computing) default (value used when none has been given)

Adjective

default (invariable, not comparable)

1. (computing) being a default setting or value

Spanish

Etymology

Borrowed from English default.

Noun

default m (plural defaults)

1. default

English

Etymology

From liable +? -ity.

Pronunciation

• IPA^(key): /la???b?l?ti/
• Hyphenation: li?abil?ity

Noun

liability (countable and uncountable, plural liabilities)

1. An obligation, debt or responsibility owed to someone.
   • 1901, W. W. Jacobs, The Monkey's Paw

     "I was to say that Maw and Meggins disclaim all responsibility," continued the other. "They admit no liability at all, but in consideration of your son's services they wish to present you with a certain sum as compensation."

2. A handicap that holds something back, a drawback, someone or something that is a burden to whoever is required to take care of them; an individual or action that exposes others to greater risk.
   • 2016 January 31, "Is Huma Abedin Hillary Clinton’s Secret Weapon or Her Next Big Problem?," Vanity Fair (retrieved 21 January 2016):

     Asked if at some point Huma becomes a liability to Hillary, the long-term Clinton insider replies, “It’s like anything else. I don’t think so, but you know I don’t have any idea. Hillary is very loyal, but she’s obviously pragmatic.”

3. The likelihood of something happening.
4. The condition of being susceptible to something.

Antonyms

• asset

Derived terms

• enterprise liability
• limited liability
• limited liability company
• secondary liability
• strict liability
• vicarious liability

Translations

Anagrams

• alibility