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.
Wiktionary(3.50 / 2 votes)Rate this definition: 1  default(Noun) The condition of failing to meet an obligation. 2  default(Noun) the original software programming settings as set by the factory. 3  default(Noun) A loss incurred by failing to compete. The team's three losses include one default.