novation in Indonesian
novation in Indonesian is novasi — 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 Indonesian
novasi
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 Indonesian
Common Indonesian translations
Frequently asked questions
What is "novation" in Indonesian?
"novation" in Indonesian is novasi. 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 Indonesian, "novation" is novasi.
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