Spells are created "on the fly" in the What's OLD is NEW system. Rather than memorizing a list of spells, your character knows a list of ingredients which can be woven together into a spell.
These ingredients consist of verbs (skills) and secrets (nouns), which are combined to form a magical action. For example, if your character knows the skills aburation, displacement, and enchantment (all "verbs") and the secrets of beasts, water, and undead (all "nouns") she can combine them in any combination to perhaps abjure undead, displace water, or enchant beast.
The range, area, duration, damage, and other measurements of the spell are determined by how many Magic Points she uses. By using abjure water and a couple of Magic Points, your character might be able to stay dry in the rain for an hour; or by using enchant undead and a lot of Magic Points, she may be able to strike fear into a terrible death knight.