Yes
You forfeit your right to choose.
"The man had to forfeit because he knew that there was no way he could win."
To forfeit is to lose by a technicality; for example, if you don't show up for a game, you might be declared to forfeit the game; when a divorced woman remarries, she forfeits her right to alimony payments from the previous husband, etc.
Forfeit
Yes your sentence is correct
The soccer team had to forfeit the game because their players kept yelling at the referees. When he was convicted, he had to forfeit all of his illegal earnings.
forfeited
She couldn't flirt her way out of a speeding ticket.
Yes, they can forfeit.
If you don't appear in court, you will forfeit your bail.
The prefix of forfeit is "for-", and the suffix is "-feit".
In ordinary usuage, "forfeit" means to relinquish your rights, as in: "I choose to forfeit my rights to the property that I own".