1. The substitution of an existing debt with a newer debt. 2. An agreement to substitute an existing party to a contract with a new party. All of the original parties to the contract must agree to the substitution.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). novation. Retrieved September 23, 2026, from http://smartdefine.org/novation/definitions/1159403 |
| Chicago | Barry Goldsmith. 2010. "novation" http://smartdefine.org/novation/definitions/1159403 (accessed September 23, 2026). |
| Harvard | Barry Goldsmith 2010, novation, Smart Define, viewed 23 September, 2026, <http://smartdefine.org/novation/definitions/1159403>. |
| MLA | Barry Goldsmith. "novation" 21 October 2010. Web. 23 September 2026. <http://smartdefine.org/novation/definitions/1159403> |