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Dissolution
DISSOLUTIONAct 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." West's Encyclopedia of American Law. 2005. Encyclopedia.com. 30 May. 2012 <http://www.encyclopedia.com>. "Dissolution." West's Encyclopedia of American Law. 2005. Encyclopedia.com. (May 30, 2012). http://www.encyclopedia.com/doc/1G2-3437701441.html "Dissolution." West's Encyclopedia of American Law. 2005. Retrieved May 30, 2012 from Encyclopedia.com: http://www.encyclopedia.com/doc/1G2-3437701441.html |
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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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Cite this article
"dissolution." The Oxford Pocket Dictionary of Current English. 2009. Encyclopedia.com. 30 May. 2012 <http://www.encyclopedia.com>. "dissolution." The Oxford Pocket Dictionary of Current English. 2009. Encyclopedia.com. (May 30, 2012). http://www.encyclopedia.com/doc/1O999-dissolution.html "dissolution." The Oxford Pocket Dictionary of Current English. 2009. Retrieved May 30, 2012 from Encyclopedia.com: http://www.encyclopedia.com/doc/1O999-dissolution.html |
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