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Legal Terms –Cancellation
Cancellation is a noun that refers to the act of terminating or ending something. 1. (in equity) - This refers to a legal concept related to fairness and justice. A court order that nullifies the legal validity of specified papers. This situation may arise when a document has served its intended function, but keeping it could potentially result in unfounded allegations against the person who created it. 2. (pertaining to business law) The right to terminate a business contract once it has been executed. The right to cancel is applicable to contracts that are made remotely, such as mail order and online sales, when the contract is with a consumer. This right is especially important in areas like time-share sales and consumer finance. The term is typically not employed to signify "termination," but rather the prompt conclusion of the contract shortly after its formation.
Cancellation is a noun that refers to the act of terminating or ending something. 1. (in equity) - This refers to a legal concept related to fairness and justice. A court order that nullifies the legal validity of specified papers. This situation may arise when a document has served its intended function, but keeping it could potentially result in unfounded allegations against the person who created it. 2. (pertaining to business law) The right to terminate a business contract once it has been executed. The right to cancel is applicable to contracts that are made remotely, such as mail order and online sales, when the contract is with a consumer. This right is especially important in areas like time-share sales and consumer finance. The term is typically not employed to signify "termination," but rather the prompt conclusion of the contract shortly after its formation.
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