novation

[ noh-vey-shuhn ]

/ noʊˈveɪ ʃən /

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noun

Law. the substitution of a new obligation for an old one, usually by the substitution of a new debtor or of a new creditor.

the introduction of something new; innovation.

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Origin of novation

1525–35; <Latin novātiōn- (stem of novātiō) a renewing, equivalent to novāt(us) (past participle of novāre to renew, derivative of novusnew) + -iōn--ion

Words nearby novation

Nova Scotia, Nova Scotia duck tolling retriever, Nova Scotian, Nova Scotia salmon, novated lease, novation, Novato, Novaya Zemlya, novel, novel coronavirus, novelese

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2023

British Dictionary definitions for novation

novation

/ (nəʊˈveɪʃən) /

noun

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

an obsolete word for innovation

Word Origin for novation

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