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novation

[noh-vey-shuh n]
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noun
  1. Law. the substitution of a new obligation for an old one, usually by the substitution of a new debtor or of a new creditor.
  2. the introduction of something new; innovation.

Origin of novation

1525–35; < Latin novātiōn- (stem of novātiō) a renewing, equivalent to novāt(us) (past participle of novāre to renew, derivative of novus new) + -iōn- -ion
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018
British Dictionary definitions for novation

novation

noun
  1. 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

Word Origin

C16: from Late Latin novātio a renewing, from Latin novāre to renew
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Word Origin and History for novation

n.

"replacement of an old obligation by a new one," 1530s, from Latin novationem (nominative novatio) "a making new, renewal," noun of action from past participle stem of novare "make new," from novus "new" (see new).

Online Etymology Dictionary, © 2010 Douglas Harper