Cancellations Law and Legal Definition

Cancellation in legal is the nulling of an agreement or event. Often, a notice of cancellation given within a certain time period will fulfill a party's obligation under contract, so as not to be a breach of contractual obligations. A contract may include a provision allowing for cancellation of contractual obligations, such as a lease of real property, by a party within a certain time period before the performance under contract is due to be performed.