Distinguished from By-law

While a by-law may be in the form of a resolution, a resolution is not necessarily a by-law. The distinction between the two has been said to lie in the fact that a resolution applies to a single act of the corporation whereas a by-law is a permanent and continuing rule which is to be applied on all future occasions. 1 Fletcher Cyclopedia Corporations 977. In Civil Law. The act by which a contract which existed and was good is rendered null. "Resolution" differs essentially from "rescission." The former presupposes the contract to have been valid, and it is owing to a cause posterior to the agreement that the resolution takes place; while rescission, on the contrary, supposes that some vice or defect annulled the contract from the beginning. Resolution may be by consent of the parties, or by the decision of a competent tribunal; rescission must always be by the judgment of a court. 7 Tropl. de la Vente, note 689; 7 Toullier, Dr. Civ. 551; Dalloz.

Defined under Resolucion in The Cyclopedic Law Dictionary.