Dissolution

From Academic Kids

Dissolution can have the following meanings:

In music dissolution is the separation of an inter-parametric unit into its component parts, where usually each part is developed independently. See musical form, connection.

In politics dissolution is the dismissal of a legislature so that fresh elections can be held, sometimes ahead of schedule.

In English history, dissolution refers to the Dissolution of the Monasteries.

In chemistry, it is the process of dissolving.

For law, see dissolution (law).

In business, dissolution is the process of admitting or removing a partner in a partnership. In the process, a revaluation of the company's assets is conducted to prevent overstating or understating the company's current net value. However, a common practice is to overlook the revaluation stage and allow a "bonus" for either side by going by the value in the books. In addition, there may be other stipulations agreed upon in the company's articles of partnership. Also, if the partnership is located in the United States, then dissolution practices must follow regulations set forth in the Uniform Partnership Act.

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