Nonremittal (Noun)
Meaning 1
Act of failing to meet a financial obligation.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The company's nonremittal of taxes for several years led to a lengthy audit and significant penalties.
- Her history of nonremittal on credit card payments made it difficult for her to obtain new credit.
- The landlord took the tenant to court for nonremittal of rent, which had been overdue for several months.
- The business's nonremittal of loan payments led to the bank repossessing the company's assets.
- The court ordered the individual to pay a fine for nonremittal of child support payments, which had been neglected for years.
Synonyms
Hypernyms
Meaning 2
Loss resulting from failure of a debt to be paid.
Classification
Nouns denoting possession and transfer of possession.