The Collaborative International Dictionary
Extinguishment \Ex*tin"guish*ment\, n.
The act of extinguishing, putting out, or quenching, or the state of being extinguished; extinction; suppression; destruction; nullification; as, the extinguishment of fire or flame, of discord, enmity, or jealousy, or of love or affection.
(Law) The annihilation or extinction of a right or obligation.
--Abbott.
Wiktionary
n. 1 The act of extinguishing, put out, or quenching, or the state of being extinguished. 2 (context legal English) The annihilation or extinction of a right or obligation.
Wikipedia
Extinguishment is the destruction of a right or contract. If the subject of the contract is destroyed (such as through merging the contract subject and the contract obligation), then the contract may be made void. Extinguishment occurs in a variety of contracts, such as land contracts (common, copyhold), debts, rents, and right of ways. A right may be extinguished by nullifing that right or, in the case of a debt, discharged by payment in full or through settlement.
An extinguishment may be by matter of fact and by matter of law. If a creditor receives satisfaction and full payment of a debt and the creditor releases the debtor, then that is express extinguishment by matter of fact. If a person is renting land and subsequently becomes the owner of that same land by purchase or descent, the rent is extinguished through implied extinguishment by matter of fact.
There are numerous situations where a claim is extinguished by operation of law. If two persons are jointly but not severally liable for a simple contract debt, a judgment at common law obtained against only one of the debtors works as an extinguishment of the claim on the other debtor as a matter of law. A conveyance of mortgaged land by the mortgagor to the mortgagee extinguishes the mortgage. However taking a promissory note for the amount due on the mortgage does not deprive the mortgage holder of a right to a lien, but merely suspends its enforcement until the note is payable.
Usage examples of "extinguishment".
At the present time, the aboriginal inhabitants of this continent seem to be surely undergoing gradual extinguishment!
A few fallen logs and old stumps were still smoking a little, as is their wont for days after the extinguishment of a forest fire.
To expect to live a dozen more years with Hasjarl and Gwaay growing daily more clever-subtle in their sorceries—or to hope for the dual extinguishment of two such cautious sprigs of his own flesh—were vanity and irrealism indeed!