Meaning of forfeiture
WebForfeiture of shares is referred to as the situation when the allotted shares are cancelled by the issuing company due to non-payment of the subscription amount as requested by the issuing company from the shareholder. Webplural forfeitures. Britannica Dictionary definition of FORFEITURE. [count, noncount] law. : the act of giving up something as punishment or because of a rule or law : the act of forfeiting something. forfeiture of assets. money subject to forfeiture.
Meaning of forfeiture
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WebThe definition of forfeiture is a term that describes any property loss without just compensation. Forfeiture happens when someone gives up privileges, property, or money to compensate for losses stemming from a violation of a legal obligation in some form. WebFeb 17, 2024 · Asset forfeiture is a critical legal tool that serves a number of compelling law enforcement purposes. Asset forfeiture is designed to deprive criminals of the proceeds …
WebThe definition of forfeiture is a term that describes any property loss without just compensation. Forfeiture happens when someone gives up privileges, property, or money … WebForfeiture occurs when a person gives up money, property, or privileges to compensate for losses resulting from a breach of a legal obligation. In criminal law, it may also refer to the government seizure of property connected to illegal activity, and has been a major weapon in the Federal government's "war on drugs" since the mid-eighties.
WebGenerally, a substantial risk of forfeiture exists if an employee’s right to deferred compensation or transferred property is contingent on the performance of substantial services in the future or on the occurrence (or nonoccurrence) of a given event. If these contingencies aren’t met, the compensation or property is forfeited.
WebBritannica Dictionary definition of FORFEITURE. [count, noncount] law. : the act of giving up something as punishment or because of a rule or law : the act of forfeiting something. …
WebApr 4, 2024 · Forfeiture definition: Forfeiture is the action of forfeiting something. Meaning, pronunciation, translations and examples therri usherWebThe entry of a preliminary order of forfeiture authorizes the Attorney General (or a designee) to seize the specific property subject to forfeiture; to conduct any discovery the court considers proper in identifying, locating, or disposing of the property; and to commence proceedings that comply with any statutes governing third-party rights. therrin protze delaware northWebfor•feit (ˈfɔr fɪt) n. 1. a fine; penalty. 2. an act of forfeiting; forfeiture. 3. something to which the right is lost, as for commission of a crime or violation of a contract. 4. an article … tracy townsend facebookWebMar 28, 2024 · The term “asset forfeiture” refers to the property the state confiscates from a defendant after a criminal or civil conviction. For example, asset forfeiture occurs when the state confiscates an expensive car from a drug dealer. The state then puts these items up for auction and uses the proceeds to both repay the victims of the crime and ... tracy townsend authorWebforfeiture: 1 n something that is lost or surrendered as a penalty; Synonyms: forfeit Type of: loss something that is lost n a penalty for a fault or mistake that involves losing or giving … the rroWebnoun. a fine; penalty. an act of forfeiting; forfeiture. something to which the right is lost, as for commission of a crime or misdeed, neglect of duty, or violation of a contract. verb … tracy townsend imsaWebForfeiture Overview. Criminal forfeiture is an action brought as a part of the criminal prosecution of a defendant. It is an in personam (against the person) action and requires that the government indict (charge) the property used or derived from the crime along with the defendant. If the defendant is convicted and the property is deemed ... tracy townsend husband