Definitions
from The American Heritage® Dictionary of the English Language, 5th Edition.
- noun The substitution of a new contract for a previous contract, or the substitution of a new party for a previous party in a contract, so that the previous obligation is considered discharged or the previous obligor released.
from The Century Dictionary.
- noun The introduction of something new; innovation.
- noun A revolution.
- noun In law, the substitution of a new obligation for an old one, usually by the substitution of a new debtor or of a new creditor.
from the GNU version of the Collaborative International Dictionary of English.
- noun obsolete Innovation.
- noun (Law) A substitution of a new debt for an old one; also, the remodeling of an old obligation; debt restructuring.
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- noun law Replacement of a
contract with one or more new contracts, in particular infinancial markets the replacement of a contract between a particular buyer and seller with contracts between theclearing house and eachparty . - noun law A new contract between the original contracting parties whereby the first
obligation is extinguished and a new obligation is substituted.
from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.
- noun (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
Etymologies
from The American Heritage® Dictionary of the English Language, 4th Edition
from Wiktionary, Creative Commons Attribution/Share-Alike License
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Examples
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In other cases, the person said, they were asking Credit Suisse to take over derivatives trades where the funds had exposure to European banks, a process called novation.
Hedge Funds Hit Resistance on European-Bank Trades Katy Burne 2011
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Last week's term was novation, which is defined as:
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Last week's term was novation, which is defined as:
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Last week's term was novation, which is defined as:
Legal Definitions 2008
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These so-called novation requests picked up sharply on Tuesday, March 11, as word spread among hedge-fund traders and brokers that Bear Stearns might not be able to pay what it owed to trading partners in swaps trades, according to the Bear Stearns trading records and hedge-fund managers.
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Deutsche Bank agreed to many of these so-called novation requests, but charged more than usual to do so.
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Yesterday's term was novation, which is defined as:
Define That Term #18 2006
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Yesterday's term was novation, which is defined as:
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FinNode Japan was established only a novation is a biological method for clean - strategic commitment.
Recently Uploaded Slideshows tseitlin 2009
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Barclays declined to comment on its arrangement with AIG, which is known as a "novation" in the world of derivatives.
IBTimes.com RSS Feed 2010
qms commented on the word novation
Those debts that proceed in rotation.
The risk is substantial
In matters financial
That trap you in endless novation.
December 26, 2016