NOVATION Meaning of NOVATION in English [ nə(ʊ)'veɪʃ(ə)n ]■ noun Law the substitution of a new contract in place of an old one.Derivativesnovate verb OriginC16: from late L. novatio(n-) , from novare 'make new'. Concise Oxford English vocab. Сжатый оксфордский словарь английского языка. 2004