Default is the failure to repay a debt including interest or principal on a loan or security. A default can occur when a borrower is unable to make timely payments, misses payments, or avoids or stops making payments. ... Default risks are often calculated well in advance by creditors.
Advocates of functionalism argue that society has different aspects and some roles are more important than others. Difficult and important roles demand higher level of motivation (I.e. compensations) for them to be filled.
