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In
law Law is a system A system is a group of Interaction, interacting or interrelated elements that act according to a set of rules to form a unified whole. A system, surrounded and influenced by its environment, is described by its boundari ...
, dissolution is any of several legal events that terminate a
legal entity In law Law is a system A system is a group of Interaction, interacting or interrelated elements that act according to a set of rules to form a unified whole. A system, surrounded and influenced by its environment, is described by it ...
or agreement such as a
marriage Marriage, also called matrimony or wedlock is a culturally and often legally recognized union between people called spouse A religious marriage. A spouse is a significant other Significant other (SO) is colloquially used as a term ...

marriage
,
adoption Adoption is a process whereby a person assumes the parenting Parenting or child rearing promotes and supports the physical Physical may refer to: *Physical examination, a regular overall check-up with a doctor *Physical (album), ''Physical'' ...

adoption
,
corporation A corporation is an organization—usually a group of people or a company—authorized by the State (polity), state to act as a single entity (a legal entity recognized by private and public law "born out of statute"; a legal person in legal ...

corporation
, or union. Dissolution is the last stage of
liquidation Liquidation is the process in accounting by which a company A company, abbreviated as co., is a Legal personality, legal entity representing an association of people, whether Natural person, natural, Legal person, legal or a mixture of ...
, the process by which a
company A company, abbreviated as co., is a Legal personality, legal entity representing an association of people, whether Natural person, natural, Legal person, legal or a mixture of both, with a specific objective. Company members share a common pu ...

company
(or part of a company) is brought to an end, and the
asset In financial accounting Financial accounting is the field of accounting Accounting or Accountancy is the measurement, processing, and communication of financial and non financial information about economic entity, economic entities such a ...
s and
property Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, r ...
of the company are gone forever. Dissolution of a
partnership A partnership is an arrangement where parties, known as business partner A business partner is a commercial entity with which another commercial entity has some form of Business alliance, alliance. This relationship may be a contractual, exclus ...
is the first of two stages in the termination of a partnership. "Winding up" is the second stage.Slides 11-17 o
Powerpoint
for Chapter 21 from McGraw-Hill from 2nd Ed. of Kusabek
Dissolution may also refer to the termination of a
contract A contract is a legally binding agreement that defines and governs the rights and duties between or among its parties Image:'Hip, Hip, Hurrah! Artist Festival at Skagen', by Peder Severin Krøyer (1888) Demisted with DXO PhotoLab Clearview ...

contract
or other legal relationship; for example, a
divorce Divorce (also known as dissolution of marriage) is the optional process of terminating a marriage in Stockholm Marriage, also called matrimony or wedlock is a culturally and often legally recognized union between people calle ...

divorce
is the dissolution of a
marriage Marriage, also called matrimony or wedlock is a culturally and often legally recognized union between people called spouse A religious marriage. A spouse is a significant other Significant other (SO) is colloquially used as a term ...

marriage
only if the husband or wife does not agree. If the husband and wife agree then it is a dissolution. Dissolution is also the term for the legal process by which an
adoption Adoption is a process whereby a person assumes the parenting Parenting or child rearing promotes and supports the physical Physical may refer to: *Physical examination, a regular overall check-up with a doctor *Physical (album), ''Physical'' ...

adoption
is reversed. While this applies to the vast majority of adoptions which are terminated, they are more commonly referred to as disruptions, even though that term technically applies only to those that are not legally complete at the time of termination. In
international law International law, also known as public international law and law of nations, is the set of rules, norms, and standards generally recognized as binding between nation A nation is a community A community is a social unitThe term "level of anal ...
, dissolution (
Latin Latin (, or , ) is a classical language belonging to the Italic languages, Italic branch of the Indo-European languages. Latin was originally spoken in the area around Rome, known as Latium. Through the power of the Roman Republic, it became ...

Latin
: ''dismembratio'') is when a state has broken up into several entities, and no longer has power over those entities, as it used to have previously. An example of this is the case of the former
USSR The Soviet Union,. officially the Union of Soviet Socialist Republics. (USSR),. was a socialist state that spanned Eurasia during its existence from 1922 to 1991. It was nominally a Federation, federal union of multiple national Republics of ...

USSR
dissolving Dissolution may refer to: Arts and entertainment Books * ''Dissolution'' (''Forgotten Realms'' novel), a 2002 fantasy novel by Richard Lee Byers * ''Dissolution'' (Sansom novel), a 2003 historical novel by C. J. Sansom Music * Dissolution, in mus ...
into different republics.


References

Legal terminology {{CatAutoTOC Terms Jargon Terminology Terms Terminology Terminology is a general word for the group of specialized words or meanings relating to a particular field, and also the study of such terms and their use. This is also known as termino ...
Corporate liquidations Insolvency law {{Business-term-stub