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Dissolution

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.

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dissolution

dis·so·lu·tion / ˌdisəˈloōshən/ • n. 1. the closing down or dismissal of an assembly, partnership, or official body: the dissolution of their marriage | Henry VIII declared the abbey's dissolution in 1540. ∎  technical the action or process of dissolving or being dissolved: minerals susceptible to dissolution. ∎  disintegration; decomposition: the dissolution of the flesh. ∎ formal death. 2. debauched living; dissipation: an advanced state of dissolution.

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"dissolution." The Oxford Pocket Dictionary of Current English. . Encyclopedia.com. 22 Jan. 2018 <http://www.encyclopedia.com>.

"dissolution." The Oxford Pocket Dictionary of Current English. . Encyclopedia.com. (January 22, 2018). http://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/dissolution

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