novation
Sign in to saveNovation, in contract law and business law, is the act of –
In the Vinony graph
Within Vinony's link graph, novation is referenced by 135 other articles, and connects out to contract, commercial law and unjust enrichment.
It sits within the topics Business law, Contract law and Derivatives (finance).
Its subject is documented across 16 Wikipedia language editions.
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- described by source
- Encyclopædia Britannica 11th edition
Sources (1)
via Wikidata · CC0
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Encyclopedic overview
6 sectionsContents
- History
- Novation vs. assignment
- Examples of novation
- International law
- References
- Further reading
Novation, in contract law and business law, is the act of – replacing an obligation to perform with another obligation; or adding an obligation to perform; or replacing a party to an agreement with a new party.
In international law, novation is the acquisition of territory by a sovereign state through "the gradual transformation of a right in territorio alieno [in foreign territory] into full sovereignty without any formal and unequivocal instrument to that effect intervening".
Excerpted from Wikipedia’s “novation” article, available under the CC BY-SA 4.0 licence.