Damages for Default
Loss caused by late payment or performance.
If someone is in default, they can be liable for the resulting loss, for example default interest, reminder or legal enforcement costs, or the additional cost of a replacement purchase. This usually requires a reminder first.
The relevant statutes
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Related terms
General explanation for self-help, not legal advice (RDG). Individual cases may differ: if in doubt, contact a consumer advice center or a lawyer.