NOVATION • DICCIONARIO INGLES.COM • Definition of Novation

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noun

Novation n.

Innovation. (Obs.) "I shall easily grant that novations in religion are a main cause of distempers in commonwealths."

(Law) A substitution of a new debt for an old one; also, the remodeling of an old obligation; debt restructuring.

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Etymology of 'Novation'

Collaborative International Dictionary of English 0.48

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"Novation" Quotes from Famous Books

... you owe Seius a sum, and he stipulates for payment thereof from Titius; for the intervention of a new person gives birth to a new obligation, and the first obligation is transformed into the second, and ceases to exist. Sometimes indeed the first stipulation is avoided by novation even though the second is of no effect: for instance, if you owe Titius a sum, and he stipulates for payment thereof from a pupil without his guardian's authority, he loses his claim altogether, for you, the original debtor, are discharged, ...

— The Institutes of Justinian • Caesar Flavius Justinian

Words linked to "Novation" : replacing, jurisprudence, replacement