нова́ция — meaning in English
novatsiya
Bulgarian → English · translate English → Bulgarian instead
English meaning
- novation noun The replacement of a contract, or of one of the parties to it, by a new agreement that all parties consent to, so that the original obligations are extinguished.
Senses
нова́ция is used for these senses in English:
- novation (legal) 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.
novation — full definition
- noun The replacement of a contract, or of one of the parties to it, by a new agreement that all parties consent to, so that the original obligations are extinguished.
- noun In finance, the process by which a clearing house steps in between the two original parties to a trade and becomes the counterparty to each of them.