Definition: the substitution of a new legal obligation for an old one
Pronunciation: \nō-ˈvā-shən\
Used in a Sentence: Unless there is a novation, a tenant assigning a lease to another still remains liable for the original lease.
Definition: the substitution of a new legal obligation for an old one
Pronunciation: \nō-ˈvā-shən\
Used in a Sentence: Unless there is a novation, a tenant assigning a lease to another still remains liable for the original lease.