Failed to pay up because of a defect indeed! (9)
I believe the answer is:
defaulted
'failed to pay up' is the definition.
(as in defaulting on a loan)
I don't understand how the remainder of the clue works.
Can you help me to learn more?
(Another definition for defaulted that I've seen is " Neglected".)
I've seen this clue in the Sydney Morning Herald.
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