novation
noun/noʊˈveɪʃən/
Frequency rank: #19,722 of 20,003 in the WORDED list (wordfreq data)
Meaning
The substitution of a new legal obligation for an existing one, with the consent of all parties involved.
Example sentence
The two companies agreed to the novation of the original contract, replacing the old obligations with new ones.
Synonyms & related words
More words in ranks 19,701–19,800
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