NOVA DEBITA

nova debita (noh-v[schwa] deb-i-t[schwa]). [Latin] Scots law. New debts, as distinguished from preexisting ones. “A security granted by a debtor within sixty days of his bankruptcy for a debt contracted before that period is reducible as a fraudulent preference. But security or payment granted in consideration of a novum debitum — a debt presently contracted […]