What is forfeit meaning?

Forfeit means to give up or surrender something as a penalty for not fulfilling an obligation. Typically, this refers to a loss or relinquishment of something, such as money, rights, or property. For example, in a game, a team may forfeit if they cannot continue to play, resulting in a loss. In legal terms, a person or company may forfeit assets or property as part of a legal judgment or settlement.