What is Dissolution?

Legal Definition
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 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.
-- Wikipedia
Legal Definition
A fundamental change of the relations among partners in a partnership, ending a governance-type relation among the partners in the partnership. As part of dissolution, liquidation of the partnership's assets occurs.
See also
Legal Definition
Contracts. The dissolution of a contract, is the annulling its effects between the contracting parties.

2. 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. Vide article Partnership and 3 Kent, Com. 27 Dane's Ab. h. t.; Gow on Partn. Index, h. t.; Wats. on Partn. h. t.; Bouv. Inst. Index, h. t.
-- Bouviers Law Dictionary
Legal Definition
Practice. The act of rendering a legal proceeding null, or changing its character; as, a foreign attachment in Pennsylvania is: dissolved by entering bail to the action. Injunctions are dissolved by the court.
-- Bouviers Law Dictionary
Legal Definition
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 tc his original rights. In this sense it is frequently used in the phrase "dissolution of a partnership." Williston v. Camp, 9 Mont. 88, 22 Pac. 501.

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. Matthews v. Bank, 60 S. C. 183, 38 S. E. 437; Lyons-Thomas Hardware Co. v. Perry Stove Mfg. Co., 86 Tex. 143, 24 S. W. 16, 22 In R. A. 802; Theis v. Gaslight Ch, 34 Wash. 23, 74 Pan. 1004.

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. a 13L
-- Black's Law Dictionary
Legal Definition
Disincorporate; breaking up a partnership.
-- Ballentine's Law Dictionary