contracts. The destruction of a right or contract the act by which a contract is made void. 2. Art extinguishment may be by matter of fact and by matter of law. 1. It is by matter of fact either express, as when one receives satisfaction and full payment of a debt, and the creditor releases the debtor 11 John. 513′; or implied, as when a person hath a yearly rent out of, lands and becomes owner either by descent or purchase, of the estate subject to the payment of the rent, the latter is extinguished 3 Stew. 60; but the person must have as high an estate in the land as in the rent, or the rent will not be extinct. Co. Litt. 147. See Merger. 3. There are numerous cases where the claim is extinguished b operation of law; for example, where two persons are jointly, but not severally liable, for a simple contract debt, a judgment obtained against one is at common law an extinguishment of the claim on the other debtor.
Law Dictionary – Alternative Legal Definition
The destruction or cancellation of a right, power, contract, or estate. The annihilation of a collateral thing or subject in the subject itself out of which it is derived. Prest. Merg. 0. For the distinction between an extinguishment and passing a right see 2 Share. Bl. Comm. 325, note.”Extinguishment” is sometimes confounded with “merger,” though there is a clear distinction between them. “Merger” is only a mode of extinguishment and applies to estates only under particular circumstances; but “extinguishment” is a term of general application to rights, as well as estates. 2 Crabb, Real Prop, p, 367, f 1487. Extinguishment of common. Loss of the right to have common. This may happen from various causes. Extinguishment of copyhold. In English law. A copyhold is said to be extinguished when the freehold and copyhold interests unite in the same person and in the same right which may be either by the copyhold interest coming to the freehold or by the freehold interest coming to the copyhold. 1 Crabb, Real Prop. p. 670,