novation (redirected from novations)

no·va·tion  (n-vshn)

n. Law

Substitution of a new obligation for an old one.

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[Late Latin novti, novtin-, from Latin, a renewing, from novtus, past participle of novre, to make new, from novus, new; see newo- in Indo-European roots.]

Thesaurus

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"