- 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. www.practicallaw.com. 2010.
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