The definition of forfeit
Webforfeit. Forfeit or forfeiture means losing a right, privilege, or property without compensation as a consequence of violating the law, breaching a legal obligation, failing to perform a contractual obligation or condition, or neglecting a legal duty. Under federal law, there are civil, criminal, and administrative forfeitures.
The definition of forfeit
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WebForfeiture laws definition is the involuntary loss of property, money, or privileges without compensation because of a breach of contract, failure to meet a legal obligation, or the commission of a crime. Private entities and the government can enforce forfeiture laws. In a private forfeiture, the defaulting party doesn't meet a contractual ... Webto lose the right to do or have something because you have broken a rule: If you cancel now, you forfeit your deposit. These people have forfeited the right to live in society. Synonym …
WebMay 31, 2024 · Forfeiture is the loss of any property without compensation as a result of defaulting on contractual obligations, or as a penalty for illegal conduct. Webn. 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. 3. 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.
Webto lose the right to do or have something because you have broken a rule: If you cancel now, you forfeit your deposit. These people have forfeited the right to live in society. Synonym forgo formal Compare waive formal SMART Vocabulary: related words and phrases Stop having or doing something abdicate abdication bail out bandh bomb out WebDefinition of Forfeiting. Forfeiting is a form of trade finance that allows exporters to convert their credit sales into cash without recourse or obligation to the buyer. It is usually used for large or long-term transactions, involving high-value goods or services, and cross-border trade. The forfeiter takes the role of a factor or a discount ...
Webforfeit v. to lose property or rights involuntary as a penalty for violation of law. Example: the government can take automobiles or houses which are used for illegal drug trafficking or …
Web1 to be forced to give up a right, a benefit, or something that you own, because you have broken a rule or law If they moved away, they would forfeit all rights to their land. It is the first time she has forfeited a tournament match through injury. Synonyms and related words To stop owning something give up sacrifice surrender ... boomhauer cryingWebApr 12, 2024 · In holding that the commissioner lacks statutory authority to assess penalties under Sections 6038(b)(1) or (2), the Tax Court also pointed to 28 U.S.C. § 2461(a), which expressly provides that “[w]henever a civil fine, penalty or pecuniary forfeiture is prescribed for the violation of an Act of Congress without specifying the mode of ... boomhauer dust in the windWebMar 20, 2024 · forfeit in American English (ˈfɔrfɪt) noun 1. a fine; penalty 2. an act of forfeiting; forfeiture 3. something to which the right is lost, as for commission of a crime … boomhauer familyWebFeb 17, 2024 · Asset forfeiture is a critical legal tool that serves a number of compelling law enforcement purposes. Asset forfeiture is designed to deprive criminals of the proceeds of their crimes, to break the financial backbone of organized criminal syndicates and drug cartels, and to recover property that may be used to compensate victims and deter crime. boomhauer diseaseWebDefine forfeiture. forfeiture synonyms, forfeiture pronunciation, forfeiture translation, English dictionary definition of forfeiture. n. 1. The act of surrendering something as a forfeit. 2. A loss of property to penalize a failure to act in … boomhauer flowersWebOct 6, 2014 · A forfeit can only be declared when all participating teams are present and the referee or other appropriate contest official has assumed jurisdiction in accordance with the applicable playing rules. A contest that has been completed can be declared a forfeit at a later date by appropriate governing bylaws and policies (national, region ... has kelly clarkson diedWebnoun Definition of forfeit as in fine a sum of money to be paid as a punishment the forfeit for each baseball player involved in the brawl was $5,000 Synonyms & Similar Words … boomhauer first name