Default vs. Forfeit — What's the Difference?
By Tayyaba Rehman & Fiza Rafique — Updated on April 8, 2024
Default typically refers to failure to fulfill an obligation, especially a financial one, while forfeit means to lose or give up something as a penalty for wrongdoing or neglect.
Difference Between Default and Forfeit
Table of Contents
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Key Differences
Default occurs when someone fails to meet an obligation or requirement, such as missing a loan payment. This can lead to legal or financial consequences and often reflects negatively on one's credit score. Forfeit, on the other hand, involves voluntarily giving up a right, possession, or privilege as a consequence of a breach of contract or rule, or as a penalty. It is often used in the context of sports or legal agreements where specific conditions, if not met, result in the loss of a right or asset.
In legal and financial contexts, defaulting on a loan or agreement triggers a specific set of legal remedies and actions against the defaulter, such as collection efforts or foreclosure. Forfeiture, whereas, may be a part of these legal remedies but can also be a condition explicitly agreed upon in contracts, where certain assets or rights are surrendered due to non-compliance with the agreed terms.
Regarding consequences, default can lead to long-term financial repercussions, affecting credit ratings and the ability to secure future loans or contracts. Forfeit, while also having potentially serious consequences, is usually more immediate and confined to the specific context of the forfeiture, such as losing property or rights as stipulated by a legal judgment or contractual agreement.
In sports, a default might occur if a team or player fails to show up for a game, resulting in a loss. Forfeit in sports often involves a team or player voluntarily giving up a game as a penalty for breaking the rules or as an acknowledgment of defeat when continuation is impossible or unnecessary, which directly affects the game's outcome or standings.
Both default and forfeiture serve as mechanisms to enforce contracts, rules, and obligations. However, default is generally seen as a failure to meet obligations, leading to enforced penalties, while forfeiture is an agreed-upon consequence for specific actions or inactions, often voluntarily accepted by the forfeiting party.
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Comparison Chart
Definition
Failure to fulfill an obligation.
Voluntary surrender of a right or possession as a penalty.
Contexts
Often financial (loans, payments).
Legal, sports, agreements.
Consequences
Legal actions, credit impact.
Loss of rights, possessions.
Voluntariness
Generally involuntary.
Often voluntary or agreed upon.
Remedies
Legal recovery, financial penalties.
Specific to the agreement or rule.
Compare with Definitions
Default
The preselected option in a system or software.
The default setting for the software maximizes privacy.
Forfeit
To lose or give up something as a penalty for wrongdoing.
The athlete had to forfeit his medal after failing the drug test.
Default
Failure to perform a required action by a specified deadline.
The company faced severe penalties after defaulting on the loan.
Forfeit
In games, to lose or give up a game as a penalty for not following the rules.
The team decided to forfeit the match due to lack of players.
Default
A setting or value automatically chosen by a computer program when none is specified by the user.
If you don't choose a font, the document will use the default.
Forfeit
A fine or penalty for wrongdoing.
The forfeit for breaking the clubhouse rules was $100.
Default
Failing to appear for a legal proceeding.
The defendant was in default for not attending the court hearing.
Forfeit
To surrender or give up a right or privilege.
By breaking the contract, they had to forfeit their deposit.
Default
The failure to compete in a scheduled competition.
The team was in default of the championship game due to unforeseen circumstances.
Forfeit
Something surrendered as punishment.
The smuggled goods were a forfeit to the government.
Default
Failure to perform a task or fulfill an obligation, especially failure to meet a financial obligation
In default on a loan.
Forfeit
Something that is lost or given up on account of an offense, error, or failure to fulfill an agreement.
Default
(Law) Failure of a party in a case to make a required court appearance.
Forfeit
Lose or be deprived of (property or a right or privilege) as a penalty for wrongdoing
Those unable to meet their taxes were liable to forfeit their estates
Default
The failure of one or more competitors or teams to participate in a contest
Won the championship by default.
Forfeit
A fine or penalty for wrongdoing
The loser must pay a forfeit
Default
(Computers) A particular setting or value for a variable that is assigned automatically by an operating system and remains in effect unless canceled or overridden by the operator
Changed the default for the page margins.
Forfeit
Lost or surrendered as a penalty for wrongdoing
His possessions were declared forfeit
Default
A situation or condition that is the case in the absence of active intervention.
Forfeit
To lose or give up (something) on account of an offense, error, or failure to fulfill an agreement
The other team did not show up in time and so forfeited the game.
Default
To fail to do what is required.
Forfeit
To subject to seizure as a forfeit.
Default
To fail to pay money when it is due.
Forfeit
The act of forfeiting
The team lost the game by forfeit.
Default
(Computers) To revert to a default.
Forfeit
In parlor games, an item placed in escrow and redeemed by paying a fine or performing an appointed task.
Default
To fail to appear in court as a party to a case when summoned.
Forfeit
Forfeits A game in which forfeits are demanded.
Default
To lose a case by not appearing.
Forfeit
Lost or subject to loss through forfeiture.
Default
To fail to take part in or complete a scheduled contest.
Forfeit
A penalty for or consequence of a misdemeanor.
Default
To fail to perform or pay.
Forfeit
A thing forfeited; that which is taken from somebody in requital of a misdeed committed; that which is lost, or the right to which is alienated, by a crime, breach of contract, etc.
He who murders pays the forfeit of his own life.
Default
(Law) To lose (a case) by failing to appear in court.
Forfeit
Something deposited and redeemable by a sportive fine as part of a game.
Default
To fail to take part in or complete (a contest, for example).
Forfeit
Injury; wrong; mischief.
Default
(finance) The condition of failing to meet an obligation.
He failed to make payments on time, and he is now in default.
You may cure this default by paying the full amount within a week.
Forfeit
To suffer the loss of something by wrongdoing or non-compliance
He forfeited his last chance of an early release from jail by repeatedly attacking another inmate.
Default
(finance) The condition of being an obligation that has not been met.
The deadline has passed, so the debt is now in default.
Forfeit
To lose a contest, game, match, or other form of competition by voluntary withdrawal, by failing to attend or participate, or by violation of the rules
Because only nine players were present, the football team was forced to forfeit the game.
Default
The original software programming settings as set by the factory
Forfeit
To be guilty of a misdeed; to be criminal; to transgress.
Default
A loss incurred by failing to compete.
The team's three losses include one default.
Forfeit
To fail to keep an obligation.
Default
A selection made in the absence of an alternative.
The man became the leader of the group as a default.
Forfeit
Lost or alienated for an offense or crime; liable to penal seizure.
Default
A value used when none has been given; a tentative value or standard that is presumed.
If you don't specify a number of items, the default is 1.
Forfeit
Injury; wrong; mischief.
To seek arms upon people and country that never did us any forfeit.
Default
(legal) The failure of a defendant to appear and answer a summons and complaint.
Forfeit
A thing forfeit or forfeited; what is or may be taken from one in requital of a misdeed committed; that which is lost, or the right to which is alienated, by a crime, offense, neglect of duty, or breach of contract; hence, a fine; a mulct; a penalty; as, he who murders pays the forfeit of his life.
Thy slanders I forgive; and therewithalRemit thy other forfeits.
Default
(obsolete) A failing or failure; omission of that which ought to be done; neglect to do what duty or law requires.
This evil has happened through the governor's default.
Forfeit
Something deposited and redeemable by a sportive fine; - whence the game of forfeits.
Country dances and forfeits shortened the rest of the day.
Default
(obsolete) Lack; absence.
Forfeit
Lost or alienated for an offense or crime; liable to penal seizure.
Thy wealth being forfeit to the state.
To tread the forfeit paradise.
Default
(obsolete) Fault; offence; wrong act.
Forfeit
To lose, or lose the right to, by some error, fault, offense, or crime; to render one's self by misdeed liable to be deprived of; to alienate the right to possess, by some neglect or crime; as, to forfeit an estate by treason; to forfeit reputation by a breach of promise; - with to before the one acquiring what is forfeited.
[They] had forfeited their property by their crimes.
Undone and forfeited to cares forever!
Default
(intransitive) To fail to meet an obligation.
Forfeit
To be guilty of a misdeed; to be criminal; to transgress.
Default
To fail to appear and answer a summons and complaint.
Forfeit
To fail to keep an obligation.
I will have the heart of him if he forfeit.
Default
Verb-financeTo fail to fulfill a financial obligation.
To default on a loan
Forfeit
In the condition of being forfeited; subject to alienation.
Once more I will renewHis lapsèd powers, though forfeite.
Default
(intransitive) To lose a competition by failing to compete.
If you refuse to wear a proper uniform, you will not be allowed to compete and will default this match.
Forfeit
Something that is lost or surrendered as a penalty;
Default
To assume a value when none was given; to presume a tentative value or standard.
If you don't specify a color, it defaults to red.
Forfeit
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
Default
A failing or failure; omission of that which ought to be done; neglect to do what duty or law requires; as, this evil has happened through the governor's default.
Forfeit
The act of losing or surrendering something as a penalty for a mistake or fault or failure to perform etc.
Default
Fault; offense; ill deed; wrong act; failure in virtue or wisdom.
And pardon craved for his so rash default.
Regardless of our merit or default.
Forfeit
Lose or lose the right to by some error, offense, or crime
Default
A neglect of, or failure to take, some step necessary to secure the benefit of law, as a failure to appear in court at a day assigned, especially of the defendant in a suit when called to make answer; also of jurors, witnesses, etc.
Cooks could make artificial birds and fishes in default of the real ones.
Forfeit
Surrendered as a penalty
Default
To fail in duty; to offend.
That he gainst courtesy so foully did default.
Default
To fail in fulfilling a contract, agreement, or duty.
Default
To fail to appear in court; to let a case go by default.
Default
To fail to perform or pay; to be guilty of neglect of; to omit; as, to default a dividend.
What they have defaulted towards him as no king.
Default
To call a defendant or other party whose duty it is to be present in court, and make entry of his default, if he fails to appear; to enter a default against.
Default
To leave out of account; to omit.
Defaulting unnecessary and partial discourses.
Default
Loss due to not showing up;
He lost the game by default
Default
Act of failing to meet a financial obligation
Default
Loss resulting from failure of a debt to be paid
Default
An option that is selected automatically unless an alternative is specified
Default
Fail to pay up
Common Curiosities
What causes a default?
A default is caused by failing to meet a required obligation, often financial.
Is forfeiting always a negative outcome?
Forfeiting is typically seen as negative, but it can also be a strategic or unavoidable decision under certain circumstances.
Can you forfeit something unintentionally?
Forfeiture is generally a consequence of an action or inaction that is known to carry such a penalty, so it is seldom unintentional.
Do both default and forfeit affect legal standing?
Yes, both can have legal implications, affecting one's rights, assets, or credit standing.
How does default affect credit scores?
Defaulting on a loan or credit agreement can significantly lower one's credit score.
Can a default be corrected?
In many cases, defaults can be corrected by fulfilling the missed obligation, though there may still be penalties.
What is the difference between a default judgment and forfeiture?
A default judgment is a legal decision made due to one party's failure to act, whereas forfeiture is the loss of rights or assets as a penalty.
How do lenders react to a default?
Lenders may initiate collection efforts, report the default to credit agencies, or take legal action to recover the debt.
Can you recover from a financial default?
Yes, through negotiation, repayment plans, or improving financial management, one can recover from a default.
How does a default impact investors?
A default can lead to loss of confidence, reduction in investment value, and potential loss of capital.
Is a default or forfeit more serious in sports?
Both are serious but serve different purposes; defaults are usually for non-appearance, while forfeits can be for rule violations.
What are the common reasons for forfeiture in contracts?
Breach of terms, failure to meet deadlines, or violating specific conditions can lead to forfeiture.
Can forfeiture be challenged in court?
Depending on the context, the conditions of forfeiture can sometimes be contested or appealed in court.
What is the role of forfeiture in criminal law?
Forfeiture in criminal law involves the government taking possession of property derived from or used in criminal activity.
Can defaulting on a loan lead to forfeiture of assets?
Yes, depending on the loan terms, defaulting can lead to foreclosure or repossession of assets as a form of forfeiture.
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Written by
Tayyaba RehmanTayyaba Rehman is a distinguished writer, currently serving as a primary contributor to askdifference.com. As a researcher in semantics and etymology, Tayyaba's passion for the complexity of languages and their distinctions has found a perfect home on the platform. Tayyaba delves into the intricacies of language, distinguishing between commonly confused words and phrases, thereby providing clarity for readers worldwide.
Co-written by
Fiza RafiqueFiza Rafique is a skilled content writer at AskDifference.com, where she meticulously refines and enhances written pieces. Drawing from her vast editorial expertise, Fiza ensures clarity, accuracy, and precision in every article. Passionate about language, she continually seeks to elevate the quality of content for readers worldwide.
