Extinguishment

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 ma...
Found on http://en.wikipedia.org/wiki/Extinguishment

Extinguishment

• (n.) The annihilation or extinction of a right or obligation. • (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.Extinguishment: words in the ...
Found on http://thinkexist.com/dictionary/meaning/extinguishment/

Extinguishment

n. A right's cancellation because the enforcement time has passed. For example: waiting for more than four years after a due date to make a payment demand of a promissory note eliminates the person's right to collect the money that is due. Extinguishment can also occur by fulfilling an obligation so that additional money or performance is not due.
Found on http://www.encyclo.co.uk/local/21213

Extinguishment

The cancellation or destruction of a right or interest, quite often because the time for enforcement has passed.
Found on http://www.nolo.com/dictionary/extinguishment-term.html
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