Dissolution

The dissolution of a contract is the annulling its effects between the contracting parties.

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.

Practice. The act of rendering a legal proceeding null, or changing its character; e.g., a foreign attachment in Pennsylvania is dissolved by entering bail to the action. Injunctions are dissolved by the court.
   

This entry contains material from Bouvier's Legal Dictionary, a work published in the 1850's.

The act of ending, terminating or winding-up a company or state of affairs. - (read more on Dissolution)
  

In corporation law, the end of the legal existence of acorporation, whether by expiration of charter, decree of court, act oflegislature, vote of shareholders or other means.