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Answer» What is Novation mean? Novation, in contract law and business law, is the act of – replacing an obligation to perform with another obligation; oradding an obligation to perform; orreplacing a party to an agreement with a new party.In international law, novation is the acquisition of territory by a sovereign state through "the gradual transformation of a right in territorio alieno [in foreign territory] into full sovereignty without any formal and unequivocal instrument to that effect intervening". reference
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