novation


From The Collaborative International Dictionary of English v.0.48:

Novation \No*va"tion\, n. [L. novatio; novus new: cf. F.
   novation.]
   1. Innovation. [Obs.]
      [1913 Webster]

            I shall easily grant that novations in religion are
            a main cause of distempers in commonwealths. --Laud.
      [1913 Webster]

   2. (Law) A substitution of a new debt for an old one; also,
      the remodeling of an old obligation; debt restructuring.
      [1913 Webster +PJC]
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