Also found in: Dictionary, Thesaurus, Medical, Financial, Encyclopedia, Wikipedia.
Act or process of dissolving; termination; winding up. In this sense it is frequently used in the phrase dissolution of a partnership.
The dissolution of a contract is its Rescission by the parties themselves or by a court that nullifies its binding force and reinstates each party to his or her original position prior to the contract.
The dissolution of a corporation is the termination of its existence as a legal entity. This might occur pursuant to a statute, the surrender or expiration of its charter, legal proceedings, or Bankruptcy.
In domestic relations law, the term dissolution refers to the ending of a marriage through Divorce.
The dissolution of a partnership is the end of the relationship that exists among the partners as a result of any partner discontinuing his or her involvement in the partnership, as distinguished from the winding up of the outstanding obligations of the business.
dissolution(Disintegration), noun adulteration, atrophy, breaking up, corrosion, corruption, crumbling, decay, decomposition, demolition, dilapidation, disassembly, disbanding, dismantlement, disorganization, dispersal, disruption, dissipation, erosion, rotting, separation, spoilage, spoliation, undoing
dissolution(Termination), noun abolishment, abrogation, annihilation, annulment, breaking up, cancelling, cessation, close, closing, completion, conclusion, death, defeasance, demise, destruction, dismissal, dissolutio, disuse, effacement, end, ending, eradication, erasure, expiration, extinction, extinguishment, extirpation, finis, finish, invalidation, liquidation, nullification, obliteration, prorogation, repeal, rescission, revocation, ruin, ruination, suppression, voidance
Associated concepts: corporate dissolution, de facto dissoluuion, de jure dissolution, dissolution of marriage, dissoluuion of partnership, dissolution proceeding
Foreign phrases: Nihil tam naturale est, quam eo genere quidque dissolvere, quo colligatum est.Nothing is so nattral as to dissolve anything in the way in which it was made binding. Nihil tam conveniens est naturali aequitati quam unumquodque dissolvi eo ligamine quo ligatum est. Nothing is so agreeable to natural equity as that a thing should be dissolved by the same means by which it was bound. Nihil est magis rationi consentaneum quam eodem modo quodque dissolvere quo conflatum est. Nothing is more consonant to reason than that a thing should be dissolved in the same way in which it was created.
See also: abatement, abolition, ademption, annulment, cancellation, cessation, death, debacle, decentralization, decline, defeasance, denouement, destruction, disassociation, discharge, end, erosion, expense, expiration, extremity, interruption, rescision, sacrifice, separation, spoilage, termination, wear and tear
dissolutionthe termination of a formal or legal relationship, such as partnership or marriage.
DISSOLUTION, contracts. The dissolution of a contract, is the annulling its
effects between the contracting parties.
2. This dissolution of a partnership, is the putting an end to the partnership. Its dissolution does not affect contracts made between the. partners and others; so that they are entitled to all their rights, and they are liable on their obligations, as if the partnership had not been dissolved. Vide article Partnership and 3 Kent, Com. 27 Dane's Ab. h.t.; Gow on Partn. Index, h.t.; Wats. on Partn. h.t.; Bouv. Inst. Index, h.t.
DISSOLUTION, practice. The act of rendering a legal proceeding null, or changing its character; as, a foreign attachment in Pennsylvania is: dissolved by entering bail to the action. Injunctions are dissolved by the court.