novation -
(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
replacing,
replacement the act of furnishing an equivalent person or thing in the place of another; "replacing the star will not be easy"
jurisprudence,
law the branch of philosophy concerned with the law and the principles that lead courts to make the decisions they do
= synonym
= antonym
= relatert ord
Wiktionary
Substantiv
novation -
Replacement of a contract with one or more new contracts, in particular in financial markets the replacement of a contract between a particular buyer and seller with contracts between the clearing house and each party.
novation -
A new contract between the original contracting parties whereby the first obligation is extinguished and a new obligation is substituted.
