'defaulting party' is correct and usable in written English.
You would use this term in a legal context when referring to a party (person or organization) who has failed to fulfill their contractual obligations or pay their debts. For example: "The court ruled in favor of the creditor, as the defaulting party had failed to make the necessary payments."
(iii) A default on an obligation will affect only that portion of the market area held by the defaulting party.
Damages are not measured, however, by what the defaulting party saved by the breach, but by the natural and probable consequences of the breach To the plaintiff.
It is normally advisable to sue in the country where the defaulting party resides or is incorporated and has an office and property, in the case of a company.
Sounds wrong, but possession is a large part of ownership over time after the intruder or defaulting party is known but allowed to stay; laws vary from state to state.
The first party (the original seller) could repossess the business from your middle man, and you could be "out the door," or perhaps the seller would put you in place of the defaulting second party, but you could be at their mercy since you were not directly contracted to them.
R&B started to replace Aldous Huxley as every band's influence of choice, the genre became the default party music of every club from Dalston to Doncaster.
Republicans running for the House and the Senate defiantly calculated that they could win in 2010 with a surge of white voters, affirming the Republican role as the default party of white America.
That kind of thinking remains the default party platform, but with increasing public restiveness and the rise of the Tea Party, a strain of conservative isolationism is gaining greater voice.
Mobile users, click here to view Viewed in Warsaw with the same horrified incomprehension as donk finds in the south of England, Disco-Polo's wonky blend of folk-pop and Eurodance remains the default party music of much of the rural heartland.
The demo was meant to be played using a "default party" of characters, with other party members unlockable for additional replay value.
Federal school loans defaulted...third party contacting me...????? Also, Sallie Mai loans defaulted.
