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novations (0 synonym found)
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Definition of novations:
(n) :
(law) 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.
(n) :
(law) A new contract between the original contracting parties whereby the first obligation is extinguished and a new obligation is substituted.
Definition of novations:
(n) :
(law) 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.
(n) :
(law) A new contract between the original contracting parties whereby the first obligation is extinguished and a new obligation is substituted.
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