To destroy the force, effectiveness, or validity of. To annul, abrogate, or terminate. Defacement or mutilation of instrument. Words of revocation written across instrument. A means whereby a holder discharges a party's liability on an instrument by physically demonstrating on the face of the instrument the intention to discharge, as by writing "CANCELLED" across the instrument's face, striking out the party's signature, or destroying or mutilating the signature or the instrument.
As applied to documents of title, the term refers to the act of the bailee voiding a negotiable document upon its surrender by the holder in taking possession of the goods. Occurs when either party puts an end to the contract for breach by the other and its effect is the same as that of "termination" except that the cancelling party also retains any remedy for breach of the whole contract or any unperformed balance. U.C.C. No. 2-106(4).
As used in insurance law, term refers to the termination of an insurance policy by an act of either or both of the parties to it, prior to the ending of the policy period. Morey v. Educator & Executive Insurers, Inc., 45 Ohio St.2d 196, 342 N.E.2d 691.
See also abrogation

Black's law dictionary. . 1990.

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Look at other dictionaries:

  • cancellation — can·cel·la·tion also can·cel·a·tion n 1: the act or an instance of cancelling 2: a mark made to cancel something (as a check) Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • cancellation — can‧cel‧la‧tion [ˌkænsəˈleɪʆn] noun [countable, uncountable] a decision or statement that a planned activity will not happen, or that an agreement will be ended: • Rail passengers are fed up with cancellations and delays. • Britain s aircraft… …   Financial and business terms

  • Cancellation — Can cel*la tion, n. [L. cancellatio: cf. F. cancellation.] 1. The act, process, or result of canceling; as, the cansellation of certain words in a contract, or of the contract itself. [1913 Webster] 2. (Math.) The operation of striking out common …   The Collaborative International Dictionary of English

  • cancellation — A postmark that contains the post office name, state, ZIP Code, and month, day, and year that the mail matter was canceled. (Also see hand stamped cancellation) …   Glossary of postal terms

  • Cancellation — (v. lat.), 1) das Durchstreichen einer Schrift mit zwei sich kreuzenden Strichen[627] bes. 2) die gerichtliche Vernichtung von Urkunden u. Wechseln etc …   Pierer's Universal-Lexikon

  • Cancellation — Cancellation, das Durchstreichen einer Schrift mit Kreuzstrichen, daher die gerichtliche Vernichtung einer Urkunde …   Herders Conversations-Lexikon

  • cancellation — [n] calling off; erasure abandoning, abandonment, abolishing, abolition, abrogation, annulment, canceling, deletion, dissolution, dissolving, elimination, invalidating, invalidation, nullification, overruling, quashing, recall, recalling, repeal …   New thesaurus

  • cancellation — or cancelation [kan΄sə lā′shən] n. 1. the act of canceling 2. something canceled 3. the mark or marks showing that something is canceled: Also cancelation …   English World dictionary

  • cancellation — (AmE also cancelation) noun ADJECTIVE ▪ last minute ▪ outright ▪ They opted for rescheduling rather than outright cancellation. ▪ flight, train (BrE) …   Collocations dictionary

  • cancellation — UK [ˌkænsəˈleɪʃ(ə)n] / US [ˌkæns(ə)lˈeɪʃ(ə)n] noun Word forms cancellation : singular cancellation plural cancellations 1) a) [countable/uncountable] a decision to stop something that has been arranged from taking place the cancellation of… …   English dictionary

  • cancellation — (kan sèl la sion) s. f. Action de canceller. ÉTYMOLOGIE    Canceller. SUPPLÉMENT AU DICTIONNAIRE    CANCELLATION. Ajoutez : •   M ayant ledit sieur président.... déclaré qu il était prêt de faire faire ladite cancellation, MALH. Lexique, éd. L.… …   Dictionnaire de la Langue Française d'Émile Littré

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