noun
- The plural of novation; the substitution of a new obligation or contract for an existing one, typically in law or business.
- Plural of novation; instances of introducing something new or making innovations.
Usage: legal/formal; usually plural or used in legal contexts
Usage: rare; archaic usage
Examples
- The contract novations were approved by both parties and their legal representatives.
- Several novations to the original agreement were necessary to reflect the new business terms.
- The creditor accepted the debtor's novations, releasing the original obligation.
- In commercial law, novations allow parties to replace old contracts with updated ones.
- The company processed multiple novations to consolidate its vendor agreements.