NOVATION

Pronunciation (US):

(GB):

 I. (noun) 

Sense 1

Meaning:

(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

Classified under:

Nouns denoting acts or actions

Hypernyms ("novation" is a kind of...):

replacement; replacing (the act of furnishing an equivalent person or thing in the place of another)

Domain category:

jurisprudence; law (the collection of rules imposed by authority)

Derivation:

novate (replace with something new, especially an old obligation by a new one)

Credits