Printer Friendly
The Free Dictionary
1,036,534,849 visitors served.
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

novation
(redirected from novates)

    Also found in: Dictionary/thesaurus, Legal, Wikipedia 0.04 sec.
Novation
1.The act of replacing one participating member of a contract with another.

2. The exchange of new debts or obligations for older existing ones.

Notes:
1. All rights, duties, and terms are transferred to the new party upon consent of all parties affected.

2. A method used to extend the life of debt and obligations. Very similar to a rollover.

See also: Debt, Rollover
Novation
Defeasance whereby the firm's debt is cancelled.
novation
The substitution of one debt with another debt.
?Page tools
Printer friendly
Cite / link
Email
Feedback
Add definition
? Mentioned in
No references found
 
Financial browser? ? Full browser
 
 
Financial Dictionary
?

Disclaimer | Privacy policy | Feedback | Copyright © 2008 Farlex, Inc.
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.. Terms of Use.