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| Type | Commercial law |
|---|---|
| Duration | 1 to 8 month(s)[citation needed] |
Inlaw,dissolution is any of several legal events that terminate alegal entity or agreement such as amarriage,adoption,corporation, or union.
Dissolution is the last stage ofliquidation, the process by which acompany (or part of a company) is brought to an end, and theassets andproperty of the company are gone forever.
Dissolution of apartnership is the first of two stages in the termination of a partnership.[1] "Winding up" is the second stage.[1][2]
Dissolution may refer to the termination of acontract or other legal relationship. For example, inEngland and Wales,divorce is the end of amarriage; dissolution is the end of a civil partnership.[3] ( A common misperception is that dissolution is only if the husband or wife does not agree: if the husband and wife agree then it is a dissolution).[dubious –discuss]
Dissolution is also the term for the legal process by which anadoption is reversed. While this applies to the vast majority of adoptions which are terminated, they are more commonly referred to asdisruptions, even though that term technically applies only to those that are not legally complete at the time of termination.
Ininternational law, dissolution (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; this type of dissolution is identical todissolution in the political sense. An example of this is the case of the formerUSSR dissolvinginto different republics.
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