novation agreement

См. также в других словарях:

• novation — no·va·tion /nō vā shən/ n [Late Latin novatio renewal, legal novation, from Latin novare to make new, from novus new]: the substitution by mutual agreement of one obligation for another with or without a change of parties and with the intent to… …   Law dictionary

• novation — [nō vā′shən] n. [LL novatio < L novare, to make new < novus, NEW] Law the substitution of a new obligation or contract for an old one by the mutual agreement of all parties concerned …   English World dictionary

• Novation — This article is about the legal term. For the keyboard manufacturer, see Novation Digital Music Systems. For the former modem manufacturer, see Novation CAT. For the Fringe television episode, see Novation (Fringe) …   Wikipedia

• novation — A type of substituted contract that has the effect of adding a party, either as obligor or obligee, who was not a party to the original duty. Substitution of a new contract, debt, or obligation for an existing one, between the same or different… …   Black's law dictionary

• novation — A type of substituted contract that has the effect of adding a party, either as obligor or obligee, who was not a party to the original duty. Substitution of a new contract, debt, or obligation for an existing one, between the same or different… …   Black's law dictionary

• novation — (1) The substitution of an existing debt with a newer debt. (2) An agreement to substitute an existing party to a contract with a new party. All of the original parties to the contract must agree to the substitution. American Banker Glossary… …   Financial and business terms

• novation — A cancellation of the rights and obligations under one loan agreement and their replacement by new ones under another agreement. The principal effect is to change the identity of the lender …   Accounting dictionary

• novation — The replacement of one legal agreement by a new obligation, with the agreement of all the parties. For example, on exchanges using the London Clearing House (LCH. Clearnet), transactions between members are novated by LCH, so that one contract is …   Big dictionary of business and management

• novation —    The agreement of parties to a contract to substitute a new contract for the old one. It is often used when the parties find that the terms of the original agreement cannot be met or that one of the parties will be forced to default or go into… …   Business law dictionary

• novation — The extinguishment of one obligation by another, a concept of the civil law introduced into common law jurisprudence. 39 Am J1st Nov § 2. A contract that discharges immediately a previous contractual duty or a duty to make compensation and… …   Ballentine's law dictionary

• novation — /nəυ veɪʃ(ə)n/ noun an agreement to change a contract by substituting a third party for one of the two original parties …   Dictionary of banking and finance