Index: src/peak/config/config_components.py
===================================================================
--- src/peak/config/config_components.py	(revision 2778)
+++ src/peak/config/config_components.py	(working copy)
@@ -764,8 +764,8 @@
     def noMoreValues(self,root,configKey,forObj):
         pass
 
-    def nameNotFound(self,root,name,forObj):
-        return naming.lookup(forObj, name, creationParent=forObj)
+    def nameNotFound(self,root,name,forObj,default=NOT_GIVEN):
+        return naming.lookup(forObj, name, creationParent=forObj, default=default)
 
 
 
Index: src/peak/config/interfaces.py
===================================================================
--- src/peak/config/interfaces.py	(revision 2778)
+++ src/peak/config/interfaces.py	(working copy)
@@ -134,7 +134,7 @@
     def noMoreValues(root,configKey,forObj):
         """A value search has completed"""
 
-    def nameNotFound(root,name,forObj,bindName):
+    def nameNotFound(root,name,forObj,bindName,default=NOT_GIVEN):
         """A (non-URL) component name was not found"""
 
 
Index: src/peak/binding/components.py
===================================================================
--- src/peak/binding/components.py	(revision 2778)
+++ src/peak/binding/components.py	(working copy)
@@ -285,7 +285,7 @@
 
 
 
-def acquireComponent(component, name):
+def acquireComponent(component, name, default=NOT_GIVEN):
 
     """Acquire 'name' relative to 'component', w/fallback to naming.lookup()
 
@@ -312,7 +312,7 @@
         return adapt(
             prev, IConfigurationRoot, NullConfigRoot
         ).nameNotFound(
-            prev, name, component
+            prev, name, component, default=default
         )
 
 
@@ -376,38 +376,38 @@
         attr = parts.next()                 # first part
         pc = _getFirstPathComponent(attr)
 
+        if pc:
+            ob = pc(component)
+        elif default is NOT_GIVEN:   
+            ob = acquireComponent(component, attr) # let the error happen
+        else:
+            ob = acquireComponent(component, attr, NOT_FOUND)
 
-        if pc:  ob = pc(component)
-        else:   ob = acquireComponent(component, attr)
-
         resolved = []
         append = resolved.append
 
         try:
             for attr in parts:
+                if ob is NOT_FOUND: break
                 pc = _getNextPathComponent(attr)
                 if pc:  ob = pc(ob)
                 else:   ob = getattr(ob,attr)
                 append(attr)
+            else:
+                return ob
 
         except AttributeError:
+            pass
 
-            if default is not NOT_GIVEN:
-                return default
+        if default is not NOT_GIVEN:
+            return default
 
-            raise exceptions.NameNotFound(
-                resolvedName = ComponentName(resolved),
-                remainingName = ComponentName([attr] + [a for a in parts]),
-                resolvedObj = ob
-            )
+        raise exceptions.NameNotFound(
+            resolvedName = ComponentName(resolved),
+            remainingName = ComponentName([attr] + [a for a in parts]),
+            resolvedObj = ob
+        )
 
-        return ob
-
-
-
-
-
-
 _getFirstPathComponent = dict( (
     ('',   getRootComponent),
     ('.',  lambda x:x),