/noh vay"sheuhn/ , n.
1. Law. the substitution of a new obligation for an old one, usually by the substitution of a new debtor or of a new creditor.
2. the introduction of something new; innovation.
[ 1525-35; novation- (s. of novatio ) a renewing, equiv. to novat ( us ) (ptp. of novare to renew, deriv. of novus NEW) + -ion- -ION ]