no·va·tion (n -v  sh n)n. Law Substitution of a new obligation for an old one. [Late Latin nov ti, novtin-, from Latin, a renewing, from novtus, past participle of novre, to make new, from novus, new; see newo- in Indo-European roots.] |
novation [nəʊˈveɪʃən]
n
1. (Law) Law the substitution of a new obligation for an old one by mutual agreement between the parties, esp of one debtor or creditor for another
2. an obsolete word for innovation
[from Late Latin novātio a renewing, from Latin novāre to renew]
ThesaurusLegend: Synonyms Related Words Antonyms
| Noun | 1. | novation - (law) the replacement of one obligation by another by mutual agreement of both parties; usually the replacement of one of the original parties to a contract with the consent of the remaining party replacement, replacing - the act of furnishing an equivalent person or thing in the place of another; "replacing the star will not be easy" law, jurisprudence - the collection of rules imposed by authority; "civilization presupposes respect for the law"; "the great problem for jurisprudence to allow freedom while enforcing order" |
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