Extinguishment

Business, Legal & Accounting Glossary

Definition: Extinguishment




What is the dictionary definition of Extinguishment?

Dictionary Definition


n. the cancellation or destruction of a right, quite often because the time for enforcement has passed. Example: waiting more than four years after the due date to make a demand for payment on a promissory note wipes out the person’s right to collect the money owed to him/her. It can also occur by fulfilling the obligation so no further money or performance is due.


Cite Term


To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/extinguishment/
Modern Language Association (MLA):
Extinguishment. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 27, 2021 https://payrollheaven.com/define/extinguishment/.
Chicago Manual of Style (CMS):
Extinguishment. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/extinguishment/ (accessed: September 27, 2021).
American Psychological Association (APA):
Extinguishment. PayrollHeaven.com. Retrieved September 27, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/extinguishment/

Definition Sources


Definitions for Extinguishment are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 28th April, 2020 | 0 Views.