Is there a way to stop a send to an individual address if data is missing?

I'm new to Exact Target and as the question implies, is there a way to omit the record from being sent an email if the data used for personalization is missing in the list?

I personally prefer sending out with a default value but in order to fully understand the capabilities of Exact Target, I figured I'd ask.

TIA

Update:Thanks I'll give that a try. Would rather not send an email with missing data so that might work.

Edit - When a system returns an error message, where does it get displayed/captured? Would that be in the B2 section where you would write it into a DE?

TIA