Definition of DISSOLUTION in Black's Law Dictionary 4th Edition – Legal dictionary – Glossary of legal terms.
Definition of DISSOLUTION
In 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. In this sense it is frequently used in the phrase "dissolution of a partnership." Williston v. Camp, 9 Mont. 88, 22 P. 501.
In Practice
The act of rendering a legal proceeding null, abrogating or revoking it; unloosing its constraining force as when an injunction is dissolved by the court. Jones v. Hill, 6 N.C. 131.
Of Corporations
The dissolution of a corporation is the termination of its existence as a body politic. This may take place in several ways; as by act of the legislature, where that is constitutional; 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 their reduction below the statutory limit. New York Title & Mortgage Co. v. Friedman, 276 N.Y.S. 72, 153 Misc. 697; Bruun v. Katz Drug Co., 351 Mo. 731, 173 S.W.2d 906, 909.
De Facto Dissolution
That which takes place when corporation, by reason of insolvency or for other reason, suspends all operations and goes into liquidation. Hidden v. Edwards, 313 Mo. 642, 285 S.W. 462, 468.
Of Marriage
The act of terminating a marriage; divorce; but the term does not include annulment. Deihl v. Jones, 170 Tenn. 217, 94 S.W.2d 47, 48.
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That's the definition of DISSOLUTION in Black's Law Dictionary 4th Edition – Legal dictionary – Glossary of legal terms. Courtesy of Cekhukum.com.
