novation

[ noh-vey-shuhn ]

Phonetic (Standard)IPA

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.

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
See innovation
an obsolete word for innovation

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Word History and Origins

Origin of novation¹

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

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Word History and Origins

Origin of novation¹

C16: from Late Latin novātio a renewing, from Latin novāre to renew

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April 23, 2024inveterate

[in-vet-er-it ]

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novated lease Novato

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