Contagion and Novation: Difference between pages
From ACT Wiki
(Difference between pages)
imported>Doug Williamson (Expand.) |
imported>Doug Williamson (Link with Central counterparty page.) |
||
Line 1: | Line 1: | ||
''Law.'' | |||
#A method of loan transfer, which transfers the rights and obligations of a lender by creating in law a new ('nova') contract between the parties, on the same terms as the original agreement except that the transferee has taken the place of the transferor. | |||
#More generally, the legal process of creating a new contract, with the commercial effect of transferring legal rights and obligations. Another example is the novation of trading contracts through a central counterparty. | |||
==See also== | |||
*[[ | == See also == | ||
* [[Substitution]] | |||
* [[Assignment]] | |||
* [[Sub-participation]] | |||
* [[Clearing house]] | |||
* [[Central counterparty]] | |||
[[Category:Long_term_funding]] | |||
[[Category:Compliance_and_audit]] | |||
[[Category:Treasury_operations_infrastructure]] |
Revision as of 17:01, 19 April 2015
Law.
- A method of loan transfer, which transfers the rights and obligations of a lender by creating in law a new ('nova') contract between the parties, on the same terms as the original agreement except that the transferee has taken the place of the transferor.
- More generally, the legal process of creating a new contract, with the commercial effect of transferring legal rights and obligations. Another example is the novation of trading contracts through a central counterparty.