NOVATION
8 letters
11 Scrabble points
/noʊˈveɪʃən/
Definition of NOVATION
noun
-
Replacement of a contract with one or more new contracts, in particular in financial markets the replacement of a contract between a particular buyer and seller with contracts between the clearing house and each party.
-
A new contract between the original contracting parties whereby the first obligation is extinguished and a new obligation is substituted.
Source: Wiktionary
Word Details
Letters
N
O
V
A
T
I
O
N
Length
8 letters
Scrabble Score
11 points