[n] the act of losing or surrendering something as a penalty for a mistake or fault or failure to perform etc.
[n] a penalty for a fault or mistake that involves losing or giving up something; "the contract specified forfeits if the work was not completed on time"
[n] something that is lost or surrendered as a penalty;
[adj] surrendered as a penalty
[v] lose or lose the right to by some error, offense, or crime