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Definitions from WordNet

Definitions from the Web

Term: Novated

Definition:

Adjective: Transferred or assigned to another person, typically when referring to a contractual obligation or agreement.

Verb: To transfer or assign a contractual obligation or agreement to another person.

Senses:

Sense 1:

Adjective: Popular or well-known among the masses.

Example Sentence: The novated song became an instant hit and topped the music charts for weeks.

Example Sentence: The novated movie franchise grossed billions at the box office.

Sense 2:

Verb: To transfer a lease or contract, especially in the context of vehicles, from one party to another with the consent of all parties involved.

Example Sentence: The employee novated the car lease to his colleague when he got a new job in a different city.

Example Sentence: The company allowed the client to novate the contract to their subsidiary in order to continue the service without interruption.

Possible Related Products:

• Novated Lease
• Novated Contract
• Novated Agreement