In a legal agreement for purchase of a property, wherein my company is paying another company ABC the purcase amount in three parts. Their draft agreement states as such:
If at any point, company ABC gives written notice of termination of this agreemnt, my company will forfeit any monies paid to company ABC.
The word "forfeit' means to give up / surrender. I cannot understand why my company should "forfeit" or lose the money we have paid if the other company ABC decides to terminate the agreement.
Does this word mean something else in legal terms? Please help. Sonia
