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." West's Encyclopedia of American Law. . Encyclopedia.com. (January 16, 2019). https://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/dissolution
"Dissolution." West's Encyclopedia of American Law. . Retrieved January 16, 2019 from Encyclopedia.com: https://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/dissolution
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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.
"dissolution." The Oxford Pocket Dictionary of Current English. . Encyclopedia.com. (January 16, 2019). https://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/dissolution
"dissolution." The Oxford Pocket Dictionary of Current English. . Retrieved January 16, 2019 from Encyclopedia.com: https://www.encyclopedia.com/humanities/dictionaries-thesauruses-pictures-and-press-releases/dissolution