Extinguishment

The destruction of a right or contract. The act by which a contract is made void. The annihilation of a collateral thing or subject in the subject itself out of which it is derived.

Prest. Merg. 9.

For the distinction between an extinguishment and passing a right, see 2 Sharsw.

Bla. Com. 325.

An extinguishment may be by matter of fact and by matter of law.

— 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; Jackson v. Shaffer, 11 Johns. (N. Y.) 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, and the latter is extinguished; Martin v. Searcy, 3 Stew. (Ala.) 50, 20 Am. Dec. 64; 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 b.

There are numerous cases where the claim is extinguished by operation of law: for example where two persons are jointly but not law an extinguishment of the claim on the other debtor; Willings v. Consequa, 1 Pet. C. €.

301, Fed. Cas. No. 17,767; Tom v. Goodrich, 2 Johns. (N. Y.) 213.

A conveyance of mortgaged land by the mortgagor to the mortgagee extinguishes the mortgage; Lyman v. Gedney, 114 111.

388, 29 X. E. 2S2, 55 Am. Rep. 871.

Taking a note for the amount due does not deprive a claimant of his right to a lien, but merely suspends its enforcement until the note is payable; Keogh Mfg. Co. v. Eisenberg, 7 Misc. 79, 27 N. Y. Supp. 356.

See Co. Litt. 147 b; Morris v. Brady, 5 Whart. (Pa.) 541; Derby Rank v. Landon, 3 Conn. 62; Jackson v. Shaffer, 11 Johns. (N. Y.) 513; Cattel v. Warwick, 6 X. J. L. 190; Mc Murphy v. Minot, 4 X. II. 251; Caldwell v. Fulton, 31 Pa. 475, 72 Am. Dec. 700; Boston & P. R. Corp. v. Doherty, 154 Mass. 314, 28 N. E. 277; Fitzpatrick v. R. R., S4 Me. 33, 24 Atl. 432; Sowles v. Witters, 54 Fed. 568; I. Smith & Son Co. v. Parsons, 37 Neb. 677, 56 N. W. 320.