default notice

default notice
Under regulations under the Consumer Credit Act 1974, where a debtor or hirer defaults under a regulated credit or hire agreement, the trader must send to the customer a default notice giving the customer at least seven days' notice before taking certain actions including termination of the agreement, demanding payment, recovering possession or enforcing a security.

Easyform Glossary of Law Terms. — UK law terms.


default notice
In the context of landlord and tenant, a notice served by a landlord wishing to preserve rights against former tenants and guarantors to recover fixed charges. A default notice of a potential claim must be served within six months of the current tenant's default (section 17, Landlord and Tenant (Covenants) Act 1995).

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • default — 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… …   Law dictionary

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  • notice — no·tice 1 n 1 a: a notification or communication of a fact, claim, demand, or proceeding see also process, service ◇ The requirements of when, how, and what notice must be given to a person are often prescribed by a statute, rule, or contract. b …   Law dictionary

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  • notice — Information; the result of observation, whether by the senses or the mind; knowledge of the existence of a fact or state of affairs; the means of knowledge. Intelligence by whatever means communicated. Koehn v. Central Nat. Ins. Co. of Omaha, Neb …   Black's law dictionary

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