1923. 1  90 years ago today (Oct. 15), the New York Yankees won their first ever championship. The Yankees christened their brand new stadium in the Bronx -- forever known as The House That Ruth Built -- by winning the pennant by 16 games and dispatching the neighboring Giants in six games in the World Series.
Strategic default. A strategic default is the decision by a borrower to stop making payments (i.e., to default) on a debt, despite having the financial ability to make the payments.
Willful Default Law & Legal Definition. Willful default is a conscious abstention by an obligor from doing that which reasonably and under the terms of the obligation he should have done. The words willful default imply more than negligence or carelessness.illful default, as the term is used in a trust instrument means more than involuntary, inadvertent, negligent, mistaken, careless, or accidental default.