Question

^{Course: Industrial Relationship}

Related to self-employment relations ( Dissolution )

Dissolution:  is the cancellation or termination of a contract or other legal relationship by the parties.

Required:

A) What have you learned about "Dissolution"? Describe your own sentences and outlines.

B)  Consider how you can benefit from "Dissolution" in your working life, and how "Dissolution" can be good for you.

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(Please Explain Long)

Answer 1

A) Dissolution is an act of bringing a relationship or an entity to an end. For instance, in a contract law, dissolution means terminating or bringing a contract between the parties to an end. Nevertheless, on the other hand, under corporate law, it is a process by which the company comes to an end. The company settles its liability and sells its assets. A partner or director of the company can also seek dissolution in the civil court by using a civil procedure. The dissolution can happen because of many specific reasons. The company is making losses, there is unreasonable behavior in the company, one or more partners want to leave the firm, and the ti period written in the contract and come to an end. This area of dissolution is comparatively complex and challenging. It is because the company has to go through different legal procedures to dissolve the firm entirely.

B) There are many advantages to the dissolution of a firm or partnership. The first advantage is liability protection. These liability provisions in the agreement can help the companies to save costs and time. However, due to the legality of the contract, the company and parties should meet the liabilities of any breach of contract. The provision of dissolution also helps the companies to avoid any rule of the state. It is because the company needs to follow a procedure to dissolve itself. If the company already mentions dissolution in the contract, the parties will not have to follow state rules. Hence, the companies can gain benefit from the dissolution process.