Homonym: Default (Standard)
"Default" refers to the failure to fulfill an obligation, particularly in financial contexts. For example, when a borrower does not make scheduled payments on a loan, they are said to be in default. This can lead to serious consequences, such as damage to credit scores and potential legal action from lenders.
In technology, "default" can also describe preset settings or options in software or devices. For instance, when a computer is set to use a specific web browser as its default, it will automatically open that browser when accessing the internet, unless changed by the user.