novation

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  • noun

Words related to novation

(law) the replacement of one obligation by another by mutual agreement of both parties

References in periodicals archive ?
Operating leases for two Boeing 737-200 aircraft have been novated to Aloha Air Cargo by BCI Aircraft Leasing Inc (BCI).
Customer lists can be acquired and existing contracts assigned or novated.
It is an example of the way in which a design-and-build contract, where the architect is novated to the contractor (in this case Gleeson), can work extremely well.
Prior to the sale, most of Penn General's business was novated to OneBeacon with a small book of business fully reinsured by OneBeacon.
It is the intention that this multi-disciplinary will be novated to the yet to be tendered and appointed contractor at RIBA Stage 4 within a design and build contract.
The contract was awarded to Leidos (legacy company formerly named SAIC), and will be novated to the new SAIC.
The GoM's support is underlined by its guarantee on PASB's additional MYR 20 billion IMTN Programme, soft loans allocated under the 10th Malaysia Plan, and a five-year moratorium on all Novated Federal Government loans.
Reports emerged in 2010 that DAE had novated a proportion of these
originally entered into on 10 June 1993 and novated in favour of Unicorn Asset
With a business sale, those contracts the buyer requires will need to be transferred, assigned or novated as part of the deal.
INPEX has novated this contract to McDermott as part of the overall subsea umbilical, riser, flowline EPCI contract.
The specialist contractor will be novated over to the main contractor.