|1.||[ noun ] act of failing to meet a financial obligation|
|Related terms:||failure default|
|2.||[ noun ] (business) the deliberate act of failing to pay money|
"his evasion of all his creditors" "he was indicted for nonpayment"
|Related terms:||payment commerce tax_evasion|
|3.||[ noun ] loss resulting from failure of a debt to be paid|
|Related terms:||payment financial_loss delinquency default|