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DIVESTITURE is the sale by a company of a product line, a subsidiary or a division.
FAIL is the failure of a transaction to be completed. In the settlement of a securities transaction, a fail occurs if the instrument is not paid for or not delivered.
DEFAULT, in finance, default is what occurs when a party is unwilling or unable to pay their debt obligations. This can occur with all debt obligations including bonds, debentures, mortgages, loans, and notes. Default can also occur with sovereign bonds, that is, governments can default on their payments to creditors. In corporate finance, a default is typically a prelude to bankruptcy. With most mortgages and loans the total amount owing becomes immediately payable on the first instance of a default of payment.
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