Extinguishment in legal terms refers to the act of ending or terminating a right, obligation, or legal claim. It can occur through various means such as fulfilment of contractual obligations, expiration of statutory limitations, release or waiver of rights, or by operation of law. Extinguishment results in the complete cessation of the legal relationship or obligation between parties involved. It is an important concept in contract law, property law, and other areas of law where rights and obligations are created and terminated.
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This glossary post was last updated: 29th March 2024.
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