dissolution

dissolution
Act or process of dissolving; termination; winding up. In this sense it is frequently used in the phrase "dissolution of a partnership."
See partnership, below, this topic.
Contracts.
The dissolution of a contract is the cancellation or abrogation of it by the parties themselves, with the effect of annulling the binding force of the agreement, and restoring each party to his original rights.
Corporation.
The dissolution of a corporation is the termination of its legal existence. This may take place in several ways; as by act of the legislature, by surrender or forfeiture of its charter; by expiration of its charter by lapse of time; by proceedings for winding it up under the law; by loss of all its members or the reduction below the statutory limit; by bankruptcy. Bruun v. Katz Drug Co., 351 Mo. 731, 173 S.W.2d 906, 909.
Dissolution of a corporation can be either voluntary (initiated and approved by board of directors and shareholders) or involuntary. Involuntary dissolutions may be "administrative" (e.g., by state for failure of corporation to file reports or pay certain taxes) or "judicial" (e.g., by attorney general for abuse of corporate authority; by shareholders because of deadlock in managements; by unpaid creditors) or can result from bankruptcy of corporation. Procedures for corporate dissolution are usually provided for in state statutes.
See e.g. Rev.Model Bus.Corp.Act No. 14.01 et seq.
Marriage.
The act of terminating a marriage; divorce; but the term does not include annulment. Delhi v. Jones, 170 Tenn. 217, 94 S.W.2d 47, 48.
See divorce.
Partnership.
The dissolution of a partnership is the change in the relation of the partners caused by any partner ceasing to be associated in the carrying on as distinguished from the winding up of the business. Uniform Partnership Act, No. 29

Black's law dictionary. . 1990.

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  • dissolution — [ disɔlysjɔ̃ ] n. f. • XIIe au fig.; lat. dissolutio, de dissolvere → dissoudre 1 ♦ (1314) Décomposition (d un agrégat, d un organisme) par la séparation des éléments constituants. La dissolution des matières animales, végétales. « L… …   Encyclopédie Universelle

  • dissolution — dis·so·lu·tion /ˌdi sə lü shən/ n: the act or process of ending: as a: the termination of an organized body (as a court) b: the ending of a partnership relationship caused by the withdrawal of one of the partners from the relationship c: the… …   Law dictionary

  • dissolution — DISSOLUTION. s. fém. Séparation des parties d un corps naturel qui se dissout. La dissolution d un composé. La dissolution des corps. La dissolution des simples, des métaux, etc. La corruption du corps se fait par la dissolution des parties. Il y …   Dictionnaire de l'Académie Française 1798

  • Dissolution — or dissolve may refer to: Dissolution (law), in law, means to end a legal entity or agreement such as a marriage, adoption, or corporation Dissolution (chemistry), or solvation, in chemistry, the process of dissolving a solid substance into a… …   Wikipedia

  • Dissolution — Dis so*lu tion, n. [OE. dissolucioun dissoluteness, F. dissolution, fr. L. dissolutio, fr. dissolvere. See {Dissolve}.] 1. The act of dissolving, sundering, or separating into component parts; separation. [1913 Webster] Dissolutions of ancient… …   The Collaborative International Dictionary of English

  • dissolution — dis‧so‧lu‧tion [ˌdɪsəˈluːʆn] noun [uncountable] when a company or partnership comes to an end officially: • Failure to agree terms could result in the outgoing partner seeking a formal dissolution of the firm on peremptory notice. * * *… …   Financial and business terms

  • dissolution — late 14c., separation into parts, also frivolity, moral laxness, dissolute living, from O.Fr. dissolution (12c.) and directly from L. dissolutionem (nom. dissolutio) a dissolving, destroying, interruption, dissolution, noun of action from pp.… …   Etymology dictionary

  • dissolution — [n1] separation, rupture breaking up, detachment, disintegration, disunion, division, divorce, divorcement, parting, partition, resolution, split up; concepts 230,388 Ant. combination, connection, solution, unification dissolution [n2] death;… …   New thesaurus

  • dissolution — The act of ending, terminating or winding up of a company or state of affairs. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • dissolution — Dissolution, f. acut. Dissolutio morum bonorum contaminatio, voyez Dissouldre …   Thresor de la langue françoyse

  • dissolution — ► NOUN 1) the formal closing down or ending of an assembly, official body, or agreement. 2) the action or process of dissolving. 3) disintegration; decomposition. 4) debauched living; dissipation …   English terms dictionary

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