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 Sharswood, Bl. Comm. 325, note. 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 [N. Y.] 513), or implied, as when a person nath 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 (3 Stew. [Ala.] 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. 147b). There are numerous cases where the claim is extinguished by 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.

1 Pet. C. C. (U. S.) 301; 2 Johns. (N. Y.) 213. See, generally, Bouv. Inst. Index; Co. Litt. 147b; 1 Ro Ue, Abr. 933; 7 Viner, Abr. 367; 11 Viner, Abr. 461; 18 Viner, Abr. 493-515; 3 Nels. Abr. 818; Bac. Abr.; 5 Whart. (Pa.) 541; 2 Root (Conn.) 492; 3 Conn. 62; 6 Conn. 373; 1 Ohio, 187; 11 Johns. (N. Y.) 513; 1 Halst. (N. J.) 190; 4 N. H. 251; 31 Pa. St. 475.