From the 'Lectric Law Library's Lexicon


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.