Novatio, Novation

Concept of “Novatio, Novation”

Traditional meaning of novatio, novation in English (with some legal use of this latin concept in England and the United States in the XIX Century) [1]: (in Latin) The substitution of a new debt or obligation for an old one, which latter is thereby extinguished. It is novation if either the debtor, the creditor, or the obligation be changed; see 137 N. Y. 542; Robinson’s Elementary Law Rev. ed.; § 294.

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Notes and References

1. Based on A Concise Law Dictionary of Words, Phrases and Maxims, “Novatio, Novation”, Boston: Little, Brown, and Company, 1911, United States. It is also called the Stimson’s Law dictionary. This term and/or definition may be absolete.

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