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Definition of novation
: the substitution of a new legal obligation for an old one
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Origin and Etymology of novation
Late Latin novation-, novatio renewal, legal novation, from Latin novare to make new, from novus
Law Dictionary
novation
play
noun
no·va·tion
\nō-ˈvā-shən\
Legal Definition of novation
: the substitution by mutual agreement of one obligation for another with or without a change of parties and with the intent to extinguish the old obligation no evidence that the contract was assigned, or that there was a novation — Boccardi v. Horn Constr. Corp., 612 N.Y.S.2d 180 (1994) — compare accord 3, substituted contract at contract
Origin and Etymology of novation
Late Latin novatio renewal, legal novation, from Latin novare to make new, from novus new
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