novate


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novate

(nəʊˈveɪt)
vb
to substitute a new obligation for an old one by mutual agreement
ThesaurusAntonymsRelated WordsSynonymsLegend:
Verb1.novate - replace with something new, especially an old obligation by a new one
jus civile, Justinian code, Roman law, civil law - the legal code of ancient Rome; codified under Justinian; the basis for many modern systems of civil law
replace - substitute a person or thing for (another that is broken or inefficient or lost or no longer working or yielding what is expected); "He replaced the old razor blade"; "We need to replace the secretary that left a month ago"; "the insurance will replace the lost income"; "This antique vase can never be replaced"
References in periodicals archive ?
NOVATE Direct Legal Solutions has signed up as a sponsor to The Big Hoot, Birmingham's mass participation art event that is set to see the city overrun by owls.
Thereafter, the next step in the initiative is for the company to use these convertible preferred securities as currency to exchange or novate other of its derivative liabilities that exist on the financial statements in the form of affiliate and non-affiliate debt.