Dissolution (law)

From Wikipedia, the free encyclopedia

In law, dissolution has multiple meanings.

Dissolution is the last stage of liquidation, the process by which a company (or part of a company) is brought to an end, and the assets and property of the company redistributed.

Dissolution of a partnership is the first of two stages in the termination of a partnership.[1] "Winding up" is the second stage.[1][2]

Dissolution may also refer to the termination of a contract or other legal relationship; for example, the dissolution of a marriage, or divorce.

Dissolution is also the term for the legal process by which an 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, dissolution 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 dissolving into different republics.

References

  1. ^ a b Kubasek, Nancy; Browne, M. Neil; Heron, Daniel; Dhooge, Lucien; Barkacs, Linda (2016). Dynamic Business Law: The Essentials (3d ed.). McGraw-Hill. p. 443. ISBN 9781259415654. 
  2. ^ Slides 11-17 of Powerpoint for Chapter 21 from McGraw-Hill from 2nd Ed. of Kusabek


Retrieved from "https://en.wikipedia.org/w/index.php?title=Dissolution_(law)&oldid=805289328"
This content was retrieved from Wikipedia : http://en.wikipedia.org/wiki/Dissolution_(law)
This page is based on the copyrighted Wikipedia article "Dissolution (law)"; it is used under the Creative Commons Attribution-ShareAlike 3.0 Unported License (CC-BY-SA). You may redistribute it, verbatim or modified, providing that you comply with the terms of the CC-BY-SA