dissolution

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Dissolution

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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

dissolution

the termination of a formal or legal relationship, such as partnership or marriage.
Collins Dictionary of Law © W.J. Stewart, 2006

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.

A Law Dictionary, Adapted to the Constitution and Laws of the United States. By John Bouvier. Published 1856.