novation
pronunciation
How to pronounce novation in British English:
UK [nəʊ'veɪʃən]
How to pronounce novation in American English:
US [noʊ'veɪʃən]
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- 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
Word Origin
- novation (n.)
- "replacement of an old obligation by a new one," 1530s, from Latin novationem (nominative novatio) "a making new, renewal," noun of action from past participle stem of novare "make new," from novus "new" (see new).
Example
- 1. Soundproof novation rooms , the novotel cafe and 4 meeting rooms maximum capacity of 160 guests .
- 2. Novation agreement for agreement for securities trading .
- 3. Originated from roman law , novation of obligation is one cause of termination or obligation in the traditional civil law codes .
- 4. Novation instrument - management and administrative assistance agreement & intellectual property agreement .
- 5. Novation instrument - export distributorship agreement ( a-s tianjin )