Definition of novate in English:

novate

verb

Law
  • See novation

    • ‘The agreement dated 23 December 1997 made between Franklin Ellis and Castle Wharf (and thereafter novated in favour of Jarvis) contains what appears to be a list of standard descriptions of the services it was to provide.’
    • ‘In April 1998, he novated the contract with my client to rebuild the roads to Hillpalm.’
    • ‘Was it a new or novated agreement whereby FTC replaced Group Co as buyer?’
    • ‘If the security is not held in trust, it should be assigned rather than novated.’
    • ‘The borrower can no longer set off any deposit it has with the seller if the whole loan agreement has been novated.’