novation in Bulgarian
novation in Bulgarian is нова́ция — novation means 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.
novation in Bulgarian
нова́ция
Pronounced: novatsiya
(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.
What does "novation" mean?
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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.
"The lease was transferred by novation, releasing the outgoing tenant entirely."
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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.
"Once the trade is accepted, novation makes the clearing house the buyer to every seller."
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novation in a sentence
- The lease was transferred by novation, releasing the outgoing tenant entirely.
- Novation of the supply contract required the client's written consent.
- Once the trade is accepted, novation makes the clearing house the buyer to every seller.
Common Bulgarian translations
Frequently asked questions
What is "novation" in Bulgarian?
"novation" in Bulgarian is нова́ция. novation means: 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.
How do you pronounce нова́ция?
"novation" in Bulgarian is нова́ция, pronounced "novatsiya".
How do you use "novation" in a sentence?
Example: "The lease was transferred by novation, releasing the outgoing tenant entirely." In Bulgarian, "novation" is нова́ция.
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