Novation Term Novation Meaning The act of replacing an existing contract or obligation with a new one by mutual agreement, thereby discharging the original liability. Context Contract Law More from Legal Maxims Nemo moriturus praesumitur mentire Nemo potest esse tenens et dominus Nolle prosequi Non Sequitur Nullum crimen sine lege, nulla poena sine lege Nunc pro tunc Obiter dictum Onus probandi More from Legal Maxims