The phrase "act or default" is correct and usable in written English.
It can be used in legal or formal contexts to refer to actions taken or failures to act.
Example: "The party may be held liable for damages if they fail to act or default on their obligations."
Alternatives: "perform or neglect" or "take action or fail".
"Although we cannot comment on any individual matters, those same byelaws state that a member shall be liable to disciplinary action if he commits any act or default likely to bring discredit on himself, the institute or the profession of accountancy," he said.
Any act or default of any third party supplier.
o Any postponement or cancellation of the Competition; o Any change to the prize or the way in which it can be used; o Any problems with the dispatch of the prize (such as the prize failing to reach the intended recipient) or the subsequent enjoyment of the prize; o Any act or default of any third party supplier.
oAny postponement or cancellation of the Competition; oAny change to the prize or the way in which it can be used; oAny problems with the dispatch of the prize (such as the prize failing to reach the intended recipient) or the subsequent enjoyment of the prize; oAny act or default of any third party supplier.
Any postponement or cancellation of the Competition; Any change to the prize or the way in which it can be used; Any problems with the dispatch of the prize (such as the prize failing to reach the intended recipient) or the subsequent enjoyment of the prize; Any act or default of any third party supplier.
The Disciplinary Committee of the Singapore Society of Accountants had found the appellant, an auditor, guilty of an act or default discreditable to an accountant within the meaning of section 33(1)(b) of the Accountants Act because an incomplete auditor's report form that he had signed in advance had accidentally been submitted to the Monetary Authority of Singapore.
Under the act, a lender is not allowed to recover interest or default charges for any period during which it has failed to comply with the requirements.
A separate report from the Congressional Research Service, the research arm of Congress, said signing a drilling lease without prior approval on a property with a mortgage owned or guaranteed by Fannie Mae or Freddie Mac "generally will be considered an act of default under the mortgage".
Under the Dodd-Frank Act, credit default swaps and many other derivatives deals must also go through clearinghouses, which act as a backstop in case one party defaults.
An attempt to sell a mortgaged property at auction, Mr. Weinstein said, would very likely be considered an act of default under most loan agreements.
Second, barring a true act of default — a veritable catastrophe that Mr. Soros told me on Friday "everybody knows won't happen" — it has no chance of losing its reserve currency status anytime soon.
