GNU Collaborative International Dictionary of English

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Found one definition

1.       
   Novation (?), n. [L. novatio; novus new: cf. F. novation.]
   1. Innovation. [Obs.]
   
   [1913 Webster]
   
   I shall easily grant that novations in religion are a main cause of distempers in commonwealths. Laud.
   
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   2. (Law) A substitution of a new debt for an old one; also, the remodeling of an old obligation; debt restructuring.
   
   [1913 Webster +PJC]