Novation vs Notation - What's the difference?
novation | notation |
(legal) 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.
* Netting by novation will occur immediately upon registration of the transaction in the SCM's name. — London Clearing House submission to the CFTC [http://www.cftc.gov/opa/press98/opa4163-98-att.htm]
(legal) A new contract between the original contracting parties whereby the first obligation is extinguished and a new obligation is substituted.
* An example of a novation is where an original debt which was payable in two instalments is novated to become payable in five installments.
(uncountable) The act, process, method, or an instance of representing by a system or set of marks, signs, figures, or characters.
(uncountable) A system of characters, symbols, or abbreviated expressions used in an art or science or in mathematics or logic to express technical facts or quantities.
(countable) A specific note or piece of information written in such a notation.
As nouns the difference between novation and notation
is that novation is (legal) 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 while notation is (uncountable) the act, process, method, or an instance of representing by a system or set of marks, signs, figures, or characters.novation
English
(wikipedia novation)Noun
(-)notation
English
(wikipedia notation)Noun
- She made a notation in the margin of the book.