term:

Extinguish

extinguish vt

1 : to cause the nonexistence of
: do away with
2 : to cause (as a claim or right) to be void
: nullify
3 : to get rid of (a debt or other liability) by payment or other compensatory adjustment
ex·tin·guish·able adj

ex·tin·guish·ment n

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.