noun a fine or penalty for wrongdoing or for a breach of the rules in a game or sport
verb to lose or be deprived of something as a penalty for wrongdoing
In legal contexts, 'forfeit' is often used to refer to the loss of property or rights as a penalty for breaking a law or rule.
In finance, 'forfeit' can refer to the loss of an asset or money due to non-compliance with terms of a contract or agreement.
In education, 'forfeit' may be used to describe the penalty for not completing assignments or failing to meet academic requirements.
In sports, 'forfeit' is used when a team is unable to play a scheduled game, resulting in a loss.
In a legal context, a writer may mention the term 'forfeit' when discussing a contract or agreement that includes clauses for forfeiting certain rights or assets in case of a breach.
A psychologist may use the term 'forfeit' when discussing the consequences of certain behaviors or actions that may lead to forfeiting certain privileges or opportunities.
Athletes may encounter the term 'forfeit' in the context of sports competitions, where a team may have to forfeit a match due to rule violations or other reasons.
In the financial sector, a financial analyst may refer to 'forfeit' when discussing stock options or other financial instruments that may be forfeited under certain conditions.
Lawyers often use the term 'forfeit' in legal proceedings to describe the loss of rights, assets, or privileges as a result of a court decision or legal action.
Real estate agents may encounter the term 'forfeit' when dealing with property transactions that include clauses for forfeiting deposits or earnest money in case of contract breaches.
Project managers may use the term 'forfeit' when discussing project timelines and deadlines, where missing a deadline may result in forfeiting certain project milestones or incentives.
Teachers may use the term 'forfeit' when setting classroom rules and consequences, where students may have to forfeit privileges or rewards for not following the rules.
Consultants may refer to 'forfeit' when discussing contractual agreements with clients, where certain fees or rights may be forfeited in case of non-compliance with the terms.
Entrepreneurs may encounter the term 'forfeit' when negotiating business deals or partnerships, where there may be clauses for forfeiting ownership stakes or control in case of business failures.