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Term of the Day: Forfeit

Forfeit n

[Anglo-French, from Middle French forfait, past participle of forfaire to commit a crime, from fors outside + faire to do]
: something forfeited or subject to being forfeited
vt 1 : to lose or lose the right to by some default, failure, or neglect of obligation or duty or by some offense [shall to the United States…any proceeds which the person obtained, directly or indirectly, from racketeering activity "U.S. Code"]
2 : to subject to forfeiture [it shall be placed in the custody of the Collector, who…shall cause a notice of the seizure and intention to and sell the same "Morgan v. United States, 107 F. Supp. 501 (1952)"]
for·feit·abil·i·ty [fȯr-fə-tə-bi-lə-tē]
n

for·feit·able adj

adj : forfeited or subject to forfeiture


Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.

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