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The default judgment is the relief requested in the party's original petition. [1] Default can be compared to a forfeit victory in sports. In a civil trial involving damages, a default judgment will enter the amount of damages pleaded in the original complaint. If proof of damages is required, the court may schedule another hearing on that issue.
A notice of default is a public notice filed with a court or local recording office to begin the process of foreclosure. A mortgage lender or servicer can file this notice after four months (120 ...
In law, a default is the failure to do something required by law or to comply with a contractual obligation. Legal obligations can arise when a response or appearance is required in legal proceedings, after taking out a loan , or as agreed in a contract ; failure to carry them out puts one in defaults of the obligations.
Default is the occurrence of an event or circumstance against which a party to a contract seeks protection. For example, a contract may state that the recording of a lien against certain property is a default .
In law, a motion to set aside judgment is an application to overturn or set aside a court's judgment, verdict or other final ruling in a case. [1] [2] Such a motion is proposed by a party who is dissatisfied with the result of a case.
When you default on a loan, the debt is often sold to a collection agency, which will then try to collect the amount owed. This process can cause a lot of frustration as the collection agency will ...
Loan default happens when you regularly miss your monthly loan payments for an extended period of time. Depending on the loan type , this can be anywhere from one day to 270 days since the last ...
In legal theory, a default rule is a rule of law that can be overridden by a contract, trust, will, or other legally effective agreement. Contract law, ...
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