novate the contract
C2CEFR level
80/100Rarity: very rare
TechnicalRegister
To replace an existing contract with a new one in which a third party takes over the rights and obligations of an outgoing party, with the consent of all involved.
On the sale of the division, the parties agreed to novate the contract so that the buyer assumed all future obligations.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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