Legal Penalties

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January 1, 1 6 min read Definitions

Forfeiture Contract Performance Legal Penalties Real Estate Default Property Rights Liquidated Damages Breach of Contract

Forfeiture refers to the loss of money or anything else of value because of failure to perform under a contract. It often occurs in legal and real estate contexts, where breaching a contract can result in the forfeiting party losing their rights to certain property or assets.