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Extinguishment

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EXTINGUISHMENT. The destruction of a right or contract. The act by which a con tract is made void. The annihilation of a collateral thing or subject in the subject it self out of which it is derived. Prest. Merg. 9. For the distinction between an extin guishment and passing a right, see 2 Sharsw. Bla. Corn. 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 ex tinguished; Martin v. Searcy, 3 Stew. (Ala.) 50, 20 Am. Dec. 64; 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 ex ample where two persons are jointly but not severally liable for a simple contract-debt, a judgment obtained against one is at common Iaw an extinguishment of the claim on the other debtor ; Willings v. Consequa, 1 Pet. C.

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

A conveyance of mortgaged land by the mortgagor to the mortgagee extinguishes the mortgage; Lyman v. Gedney, 114 III. 388, 29 N. E. 282, 55 Am. Rep. 871. Taking a note for the amount due does not deprive a claim ant of his right to a lien, but merely sus pends its enforcement until the note is pay able; 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 Bank v. Landon, 3 Conn. 62; Jackson v. Shaffer, 11 Johns. (N. Y.) 513; Cattel v. Warwick, 6 N. J. L. 190; McMurphy v. Minot, 4 N. H. 251; Caldwell v. Fulton, 31 Pa. 475, 72 Am. Dec. 760; Bos ton & P. R. Corp. v. Doherty, 154 Mass. 314, 28 N. E. 277; Fitzpatrick v. R. R., 84 Me. 33, 24 Atl. 432 ; Sowles v. Witters, 54 Fed. 568; I. Smith & Son Co. v. Parsons, 37 Neb. 677, 56 N. W. 326.