Definitions for: Novation

[n] (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

Webster (1913) Definition: No*va"tion, n. [L. novatio; novus new: cf. F.
novation.]
1. Innovation. [Obs.]

I shall easily grant that novations in religion are
a main cause of distempers in commonwealths. --Laud.

2. (Law) A substitution of a new debt for an old one; also,
the remodeling of an old obligation.

See Also: replacement, replacing

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