novation
Americannoun
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Law. the substitution of a new obligation for an old one, usually by the substitution of a new debtor or of a new creditor.
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the introduction of something new; innovation.
noun
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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
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an obsolete word for innovation
Etymology
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
Example Sentences
Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.
As more hospitals combine to form larger systems, they are also joining forces to manage supply costs through group purchasing organizations such as Novation and Premier, and acquiring more independent physician practices.
From Reuters • Nov. 29, 2011
More than one in three hospitals have been renovated to account for obese patients or are planning to do so in the near future, according to the Novation study.
From Seattle Times • Jul. 27, 2010
Novation, nō-vā′shun, n. the substitution of a new obligation for the one existing: innovation.
From Chambers's Twentieth Century Dictionary (part 3 of 4: N-R) by Various
Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023
Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.
