novation

listen to the pronunciation of novation
الإنجليزية - التركية
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(Kanun) Eski yükümlülüklerin yenileriyle değiştirilmesi
{i} yenileme
(isim) yenileme
(Ticaret) yenilenmesi
الإنجليزية - الإنجليزية
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
A new contract between the original contracting parties whereby the first obligation is extinguished and a new obligation is substituted
Defeasance whereby the firm's debt is canceled
The substitution of a new person for one of the parties to an agreement, on consent of all people involved
a 3-party agreement whereby one party is re from a contract and another party is substituted
A term in English law meaning the substitution of one party to a contract by another, with the consent of the other contracting party For example, A and B have a contract, and now A wants to transfer his rights and obligations under the contract with the sanction of C - this is a case of Novation Novation is required where A wants to transfer both the rights and obligations under the contract Compare with assignment which is normally only of rights under a contract, and does not require the sanction of the other contracting party Also see sub-participation, subrogation
Full substitution of the original borrower by a new, qualified borrower; releases the original maker of the loan from all liability
Innovation
{i} exchange of old obligations with new ones (Law)
Defeasance whereby the firm's debt is cancelled
1: The substitution of an older debt or obligation with a newer one
A third party agreement whereby one party is released from a contract and another party is substituted
Substituting a new obligation for an old one or substituting new parties to an existing obligation
Substitute a new debt for an old debt cancelling the old debt (Compare with "subrogation")
A hybrid variation of design & build procurement where the client appoints a designer (architect) to develop a concept design and passes on that designer to the contractor
A substitution of a new debt for an old one; also, the remodeling of an old obligation
(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
The substitution of a new obligation for an existing one with the intent to extinguish the original contract A new contract which takes the place of an existing one
Replacing old borrowers with new ones under the same obligation, such as an assumption, or replacing an old contract with a new one using the same borrowers
The substitution of parties in a contract or the replacement of one contract with another
When a new borrower assumes a loan; this is the term that is used by a lender that releases the original borrower from any personal liability
The substitution of a new obligation for an old one; substitution of new parties to an existing obligation, as where the parties to an agreement accept a new debtor in place of an old one

المصطلحات ذات الصلة

novation contract
contract which is used as a substitute for the original contract
novation
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