Novation

[No*va·tion]

(law) the replacement of one obligation by another by mutual agreement of both parties; usually the replacement of one of the original parties to a contract with the consent of the remaining party

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Innovation.

Noun
(law) the replacement of one obligation by another by mutual agreement of both parties; usually the replacement of one of the original parties to a contract with the consent of the remaining party


n.
Innovation.

n.
A substitution of a new debt for an old one; also, the remodeling of an old obligation.


Novation

No*va"tion , n. [L. novatio; novus new: cf. F. novation.] 1. Innovation. [Obs.]
I shall easily grant that novations in religion are a main cause of distempers in commonwealths.
2. (Law) A substitution of a new debt for an old one; also, the remodeling of an old obligation.

Innovation.

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Usage Examples
Misspelled Form

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