novation

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Definitions from WordNet

Noun novation has 1 sense

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
--₁ is a kind of replacement, replacing

Derived form: verb novate₁

Definitions from the Web

Novation

Part of Speech: Noun

Sense 1:

Definition: The act or instance of substituting a new obligation or contract for an existing one, with the mutual agreement of all parties involved.

Sample Sentence: The novation of the lease agreement allowed the new tenant to take over all responsibilities and obligations of the previous tenant.

Sense 2:

Definition: In music, the introduction of a new melodic theme while retaining the original harmony.

Sample Sentence: The composer showcased his skills with a brilliant novation in the final movement of the symphony.

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