Forfeiters

Forfeiters are individuals or entities that fail to meet an obligation, such as a legal order, contract, or agreement, leading to the loss of rights, financial resources, or privileges. Forfeiting can occur in a variety of contexts, including legal, financial, and competitive fields, where the failure to comply with conditions results in penalties or the relinquishment of assets.

Forfeiters meaning with examples

• In the realm of competitive sports, forfeiters often face backlash from fans and fellow competitors when matches are not played due to serious violations of the sport's rules.
• The court declared the real estate developers as forfeiting entities after they failed to complete the construction project on time, resulting in significant financial penalties.
• Forfeiters in the gaming community are typically those who abandon their matches, leading to negative impacts on ratings and potential bans from future competitions.
• In a recent auction, several forfeiters were revealed for not adhering to the bidding rules, leading to their bids being declared void and their deposits forfeited.
• Companies can become forfeiters when they do not fulfill their contractual obligations, which might expose them to legal action and loss of business reputation.