In legal terms, “forfeit” refers to the loss or surrender of a right, property, or privilege due to a failure to fulfil an obligation or meet certain conditions. Forfeiture can occur as a penalty for violating laws, regulations, or contractual agreements. It may involve relinquishing assets or rights to the state or another party as a consequence of illegal actions, non-payment of debts, breach of contract, or other offences. Forfeiture aims to deter unlawful behaviour, enforce compliance with laws and regulations, and provide restitution to victims or affected parties.
- To suffer the loss of something by wrongdoing or non-compliance
- To lose a contest, game, match, or other form of competition by voluntary withdrawal, by failing to attend or participate, or by violation of the rules
- To be guilty of a misdeed; to be criminal; to transgress.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 29th March, 2024.
To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.
- Page URL:https://dlssolicitors.com/define/forfeit/
- Modern Language Association (MLA):Forfeit. dlssolicitors.com. DLS Solicitors. April 29, 2024 https://dlssolicitors.com/define/forfeit/.
- Chicago Manual of Style (CMS):Forfeit. dlssolicitors.com. DLS Solicitors. https://dlssolicitors.com/define/forfeit/ (accessed: April 29, 2024).
- American Psychological Association (APA):Forfeit. dlssolicitors.com. Retrieved April 29, 2024, from dlssolicitors.com website: https://dlssolicitors.com/define/forfeit/