novation

/noʊˈveɪʃən/

IPA: /N AH0 V EY1 SH AH0 N/

noun
  1. 1

    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.

  2. 2

    A new contract between the original contracting parties whereby the first obligation is extinguished and a new obligation is substituted.

Translate “novation” into another language

Choose a language below to open the translator with English selected as the source language.

🇪🇸Spanish🇫🇷French🇩🇪German🇸🇦Arabic🇨🇳Chinese Simplified🇯🇵Japanese🇮🇳Hindi🇧🇷Portuguese🇷🇺Russian🇰🇷Korean🇮🇹Italian🇹🇷Turkish
See all 248+ languages

Source: https://en.wiktionary.org/wiki/novation

Back to Dictionary