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LSDefine

Simple English definitions for legal terms

extinguishment

Read a random definition: capital surplus

A quick definition of extinguishment:

Extinguishment: Extinguishment means getting rid of something legally. It can be a right, an agreement, or a debt. When someone pays off their debt completely, the debt is considered extinguished. It's like erasing it from existence. Extinguishment can also happen when a creditor accepts something else as security instead of the original agreement.

A more thorough explanation:

Extinguishment is when a legal right, interest, or contract is cancelled or destroyed. This can happen when a debt is paid off in full and the creditor releases the borrower. It can also happen when a creditor accepts a higher security.

Example 1: John owes $10,000 to his credit card company. He pays off the entire balance and the credit card company releases him from the debt. The debt is now considered extinguished.

Example 2: Sarah has a car loan with a bank. She decides to sell the car and use the money to pay off the loan. The bank accepts the money and releases Sarah from the loan. The loan is now considered extinguished.

These examples illustrate how extinguishment occurs when a debt is paid off in full or when a creditor accepts a higher security. In both cases, the legal right or interest is cancelled or destroyed, and the borrower is released from their obligation.

extermination | extortion

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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