FOLIO Ontology

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Identification

IRI:
https://folio.openlegalstandard.org/R7U0Y6j3u18HyTLnqyoaqFq
Label Breach of Loan Contract
Preferred Label Loan Default
Identifier N/A
Alternative Labels
Borrower Default Debt Default Loan Agreement Breach Loan Payment Default

Definition

A Loan Default occurs when a borrower fails to meet the legal obligations or conditions of a loan agreement, typically involving missed payments or breach of other terms. This default triggers legal consequences and can lead to actions such as foreclosure, repossession, or litigation.

Class Relationships

Sub Class Of

Is Defined By

N/A

See Also

Parent Class Of 0

  • • None

Class Hierarchy Visualization

Interactive graph showing class relationships - click on any node to navigate to that class

Additional Information

Metadata

Comment

None

Description

None

Notes

  • • None

Editorial Information

History Note

None

Editorial Note

None

Deprecated

No

Source and Origin

No source or origin information available