novation


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no·va·tion

 (nō-vā′shən)
n. Law
The substitution of a new contract for a previous contract, or the substitution of a new party for a previous party in a contract, so that the previous obligation is considered discharged or the previous obligor released.

[Late Latin novātiō, novātiōn-, from Latin, a renewing, from novātus, past participle of novāre, 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
[C16: from Late Latin novātio a renewing, from Latin novāre to renew]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.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"
References in periodicals archive ?
IRVING, Texas, April 10, 2015 /PRNewswire/ -- Novation, the nation's leading health care services company, announced that its Period 2 National Group Buys launched April 1 and will be effective through June 30.
National Starch Food Innovation has extended its Novation[R] range of clean label functional native starches in Europe with Novation Uno 260, a cost-effective solution which enables food manufacturers to formulate additive-free, appealing foods without the performance variability of traditional native starches.
National Starch Food Innovation has expanded its award-winning Novation functional native starch portfolio with the addition of Novation 6260.
Earlier this year, K-C and Novation announced a separate agreement for disposable blood pressure cuffs, which are expected to generate more than $7 million in sales for K-C.
Nihon Kohden America has been awarded an Innovative Technology contract from Novation for Prefense[TM] - Early Detection and Notification System.
29, 2015 /PRNewswire/ -- Novation, the leading health care services company, announce today that its national Group Buys for the first period of 2015 were launched Jan.
National Starch Food Innovation has launched two new certified organic functional native starches as part of its patented Novation portfolio.
Cook's peripheral intervention and diagnostic devices will be offered to the more than 65,000 health care members served by Novation
18, 2014 /PRNewswire/ -- Novation, the leading health care services company, announces that its Group Buys for the fourth period of 2014 are currently in progress.
Novation 4300 and Novation 5300 combine the proven performance of Novation starches with the convenience of cold water thickening for use across a variety of food applications.
Terms of the contract state that Novation will make MD Buyline's services available to the network of 65,000+ members it serves through December 2015.