Jisho

×
こうかい 更改
Common word Links
Noun, Suru verb, Transitive verb
1. renewal; extension; revision​
Wikipedia definition
2. Novation​In contract law and business law, novation is the act of either replacing an obligation to perform with a new obligation, or replacing a party to an agreement with a new party. In contrast to an assignment, which is valid so long as the obligee (person receiving the benefit of the bargain) is given notice, a novation is valid only with the consent of all parties to the original agreement: the obligee must consent to the replacement of the original obligor with the new obligor.
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