Renewal

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Renewal

Rehabilitation; reestablishment; substitution of a new right or obligation for another of the same or similar nature.

In regard to bonds, renewal signifies an extension of time for maturity. A stipulation for the renewal of a lease requires the making of a new lease, as opposed to an extension, which involves adding time to a leasehold agreement already in existence without executing a new instrument.

renewal

n. keeping an existing arrangement in force for an additional period of time, such as a lease, a promissory note, insurance policy or any other contract. Renewal usually requires a writing or some action which evidences the new term.

RENEWAL. A change of something old for for something new; as, the renewal of a note; the renewal of a lease. See Novation, and 1 Bouv. Inst. n. 800.

References in periodicals archive ?
If such notice is not given, the employee is entitled to assume that the contract will be renewed.SAME TERMSSimilarly, where the contract period has expired but the employee has continued working and being paid, the contract will be deemed to have been renewed on the same terms.
He said: "We are now approaching 10,000 people renewed, which compared to last year is slightly down but this time we have 2,500 Terrier Members waiting in the wings."
Season Ticket holders can renew by logging into their existing Everton account on evertonfc.com, over the phone by calling 0151 556 1878, or in person at the Goodison Park Box Office or at Everton Two, Liverpool One.
A studyconducted by RENEW onthe MFI impact through athree-month research fromJuly to September 2018reported that rural womenfind it more convenientto avail the RENEW MFIservices since they do nothave to go personally todeposit and withdrawmoney.
If you are facing a financial case and your passport is held by the public prosecution/court, you may be able to renew the dependent visa provided you request the public prosecutor/court and seek its approval to allow you to renew this visa
Anthony Alicastro, Merseyflow managing director, told residents it only takes 10 minutes to renew their registration online.
The 2018 biennial registration renewal is required under section 415 of the Federal Food, Drug and Cosmetic Act (FD&C Act), which requires food facilities that are required to register with FDA to renew such registrations during the period beginning on October 1 and ending December 31 of each even-numbered year.
Last year, 320,000 people had tax credits stopped or altered because they failed to renew on time and inform HMRC of any changes to their circumstances, such as working hours, income and childcare costs.
HMRC is urging people to renew their tax credits before the July 31 deadline.
The sources said that it was higher education department's obligation to renew their job tenure but due to unknown reasons the contract could not be extended yet.
It is unfair not to renew the Del Monte lease because it could render many youths jobless, Thika Town MP Patrick Wainaina has said.