novation in French
novation in French is novation — 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 French
novation
(legal) A new contract between the original contracting parties whereby the first obligation is extinguished and a new obligation is substituted.
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.
Similar words in French
Common French translations
Frequently asked questions
What is "novation" in French?
"novation" in French is novation. 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 use "novation" in a sentence?
Example: "The lease was transferred by novation, releasing the outgoing tenant entirely." In French, "novation" is novation.
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