- (law) Replacement of a contract with one or more new contracts, in particular in financial markets the replacement of a contract between a particular buyer and seller with contracts between the clearing house and each party.
- (law) A new contract between the original contracting parties whereby the first obligation is extinguished and a new obligation is substituted.
- An example of a novation is where an original debt which was payable in two instalments is novated to become payable in five installments.
- The translations below need to be checked and inserted above into the appropriate translation tables, removing any numbers. Numbers do not necessarily match those in definitions. See instructions at Wiktionary:Entry layout § Translations.