nonpayment
Học thuậtThân thiện
Definition
- Noun:
- The deliberate act of failing to pay money that is owed: "Nonpayment" refers to the intentional act of not paying a debt, bill, or financial obligation.
- Loss resulting from failure of a debt to be paid: It can also describe the financial loss incurred when a payment is not made.
- Act of failing to meet a financial obligation: This is the general act of defaulting on any kind of monetary commitment.
Usage Examples
- Noun:
- The company faced legal action due to nonpayment of its taxes.
- Nonpayment of rent for three months can result in eviction.
- The contract includes penalties for nonpayment.
Advanced Usage
- "In nonpayment of": used in formal or legal contexts to specify the obligation that was not paid.
- He was sued in nonpayment of a loan.
- "Risk of nonpayment": a common phrase in finance and credit, referring to the possibility that a debtor will not pay.
- The bank assesses the risk of nonpayment before issuing a credit card.
Variants and Related Words
- Default (n): failure to fulfill an obligation, especially to repay a loan.
- The borrower went into default after six months of nonpayment.
- Delinquency (n): a failure to pay an outstanding debt by the due date.
- The account was marked for delinquency following nonpayment.
Synonyms
- Failure to pay
- Default
- Non-remittance
Antonyms
- Payment
- Settlement
- Remittance
Related Phrases
- Nonpayment clause: A section in a contract detailing the consequences of not paying.
- The nonpayment clause states that interest will accrue on the overdue amount.
- Notice of nonpayment: A formal notification sent to inform a party that payment has not been received.
- The landlord sent a notice of nonpayment to the tenant.
Noun
- the deliberate act of failing to pay money
- his evasion of all his creditors
- he was indicted for nonpayment
- loss resulting from failure of a debt to be paid
- act of failing to meet a financial obligation