for·feit

(fôr′fĭt)

tr.v. for·feit·ed, for·feit·ing, for·feits

1. To lose or give up (something) on account of an offense, error, or failure to fulfill an agreement: The other team did not show up in time and so forfeited the game.

2. To subject to seizure as a forfeit.

1. Something that is lost or given up on account of an offense, error, or failure to fulfill an agreement.

2. The act of forfeiting: The team lost the game by forfeit.

a. In parlor games, an item placed in escrow and redeemed by paying a fine or performing an appointed task.

b. forfeits A game in which forfeits are demanded.

adj.

Lost or subject to loss through forfeiture.

[Middle English forfet, crime, penalty, from Old French forfait, past participle of forfaire, to commit a crime, act outside the law : fors-, beyond; see foreclose + faire, to do; see feasible.]

for′feit·a·ble adj.

for′feit·er n.

American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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References in periodicals archive

(230) Further, such a rule may be easier for the Service to administer assuming that valuation is easier when the property becomes transferable or no forfeitable.

Tax elections & private bargaining

not the obligation under a specific account or the obligation 'arising' from the deposit of forfeitable funds." [Slip op.

In case of U.S.'s seizure of funds from interbank account held by Jordanian bank because forfeited checks had been deposited into accounts in Jordan, First Circuit finds that owners of forfeited deposits own interbank account funds to extent that, at time of seizure, bank owed any obligations to forfeited deposit owners

Civil forfeiture ordinarily requires court jurisdiction over the property, but when forfeitable property is held overseas in a financial institution that has a correspondent account in this country the federal government may institute and maintain civil forfeiture proceedings against the funds in the interbank account here, 18 U.S.C.

Title IV: combating terrorism financing act of 2005

Shortly thereafter the Justice Department cut a deal with one of Hallinan's clients, a marijuana smuggler, allowing him to keep more than $4 million in forfeitable profits from drug dealing in exchange for his testimony implicating Hallinan in a drug conspiracy.

Criminal representation: did Congress quietly make it a crime for lawyers to defend terror suspects?

Since Tim's shares are forfeitable, he is not treated as the "owner" of the stock.

Goodbye stock options, hello common stock: companies are returning to the tried-and true grant of common stock

The lessee will post a performance bond, which will presumably be forfeitable upon mis-, mal- or non-feasance by the lessee.

The anatomy of a deal: a close look at the World Bank's plans to privatize Ghana's water system. (Word Bank/IMF Privatization Mania)

(238) If the use for which a land use right is granted is not properly commenced within two years, it is forfeitable to the State.

Land tenure security as a market stimulator in China

Code, Section 981(a)(1)(C), the proceeds of all specified unlawful activities will be directly forfeitable, including Title 18, U.S.

The International Sharing Program

The majority opinion relied heavily on early American admiralty law as the basis for its holding that the police do not have to obtain a warrant before seizing an automobile from a public place, so long as they have probable cause to believe the car is forfeitable as contraband under the asset forfeiture laws.

Major criminal law decisions of the U. S. Supreme Court: 1998-99 term