Etymology
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defaulter (n.)

"one who fails to perform some duty or obligation," 1650s, agent noun from default (v.).

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Definitions of defaulter

defaulter (n.)
someone who fails to make a required appearance in court;
defaulter (n.)
someone who fails to meet a financial obligation;
Synonyms: deadbeat
defaulter (n.)
a contestant who forfeits a match;
From wordnet.princeton.edu