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novation
no·va·tion
[
nō váysh'n
]
noun
Definition:
renewal of contract:
the replacement of an old contract or obligation with a new one
[
Early 16th century. < late Latin
novation-
< Latin
novare
"make new" <
novus
"new"
]
Encarta® World English Dictionary [North American Edition] © & (P)2009 Microsoft Corporation. All rights reserved. Developed for Microsoft by Bloomsbury Publishing Plc.
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