👉 Miscasualty is a term used in various fields, such as law, finance, and accounting. It refers to a situation where an individual or entity fails to pay their debts on time due to unforeseen circumstances beyond their control, such as natural disasters or unexpected events. In the context of law, miscasualty can be defined as a breach of contract or a failure to perform under a legal agreement. It is often used in situations where a party has a legal obligation but fails to
