nonperformance
11nonperformance — noun failure to act with the prudence that a reasonable person would exercise under the same circumstances • Syn: ↑negligence, ↑carelessness, ↑neglect • Derivationally related forms: ↑neglect (for: ↑neglect), ↑car …
12As a noun, an undertaking or promise that is collateral to the primary or principal obligation and that binds the guarantor to performance in the event of nonperformance by the principal obligor. — As a noun, an undertaking or promise that is collateral to the primary or principal obligation and that binds the guarantor to performance in the event of nonperformance by the principal obligor. A provision contained in a written document, such… …
13Mark-to-market accounting — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …
14nonfeasance — non·fea·sance /ˌnän fēz əns/ n [non + obsolete English feasance doing, execution, from Anglo French fesance, from Old French faisance act, from fais , stem of faire to do, from Latin facere]: the failure or omission to do something that should be …
15failure — I (New American Roget s College Thesaurus) Nonperformance Nouns 1. failure, unsuccessfulness, nonsuccess, nonfulfillment; dead failure, abortion, miscarriage, malfunction, outage; bankruptcy (see nonpayment); labor in vain; no go; inefficacy;… …
16breach — / brēch/ n 1 a: a violation in the performance of or a failure to perform an obligation created by a promise, duty, or law without excuse or justification breach of duty: a breach of a duty esp. by a fiduciary (as an agent or corporate officer)… …
17default — de·fault /di fȯlt, dē ˌfȯlt/ n [Anglo French defalte defaute lack, fault, failure to answer a summons, from defaillir to be lacking, fail, from de , intensive prefix + faillir to fail] 1: failure to do something required by duty (as under a… …
18failure of consideration — failure of consideration: the neglect, refusal, or failure of a party to a contract to perform as promised or furnish the consideration promised; also: the extinguishment of the consideration or of the worth of the consideration promised Merriam… …
19forfeiture — for·fei·ture / fȯr fə ˌchu̇r/ n 1: the loss of a right, money, or esp. property because of one s criminal act, default, or failure or neglect to perform a duty compare waiver 2: something (as money or property) that is forfeited as a penalty… …
20illusory promise — see promise Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. illusory promise n …
