The 'Lectric Law Library's Lexicon On
* Dissolution *

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.
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