novation

Meanings

• The replacing of an old agreement or obligation with a new one.

  - "The company decided to novate the contract with the supplier."
  - "In the world of finance, novation is often used to replace an existing loan with a new one."

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Rhymes

Words rhyming with novation
novation , coblation , revolution , evolution

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Variants

List of all variants of novation that leads to same result
novation , novations

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Etymology

origin and the way in which meanings have changed throughout history.

The term 'novation' comes from the Latin word 'novus', which means 'new'. Novation refers to the process of replacing an old agreement or obligation with a new one.

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