Concept in Definition ABC

A Cancellation is the cancellation, suspension of a document or of a signed commitment, between two people, or between an individual and a company, from time to time.

Suspension or cancellation of a commitment or document

Meanwhile, it is a word that due to its broad reference can be used in different areas, for example, the cancellation of a trip, the cancellation of a mortgage, the cancellation of a service, the cancellation of a loan, cancellation of a flight, cancellation of an event such as a birthday, a dinner, an exam, a marriage, among others.

Cancellation may mean that something that was planned is never done again or that it is suspended only for a time, until certain conditions that are required are restored.

Reasons for cancellation

Generally, the cancellation will have a reason, a reason of weight, which leads those responsible for the commitment or those subscribers of a document to decide to cancel it.
For example, health motivations, the impossibility of guaranteeing

safety, a fight, are some of the reasons why documents or commitments are usually canceled.

Not necessarily what is canceled will not be carried out, it is common that some weighty circumstances, such as bad weather conditions, make the decision to be made cancel a flight, however, once the imponderable has been solved, the cancellation will be lifted and then the person can embark on their trip or continue with the matter in question.

Although not in all the cases mentioned it is necessary, in many contexts, such as services, it is required, when it comes to wanting to cancel it, that the owner make a cancellation letter in which he / she gives an account of the reasons and his / her personal data to proceed with the herself.

Now, in matters that have to do with the personal, such as the cancellation of a wedding, almost always implies that this event will not be generated or materialized today, tomorrow, or never.
Because when it comes to these types of issues, surely, there is a personal weight issue, a deception, the loss of love, a strong fight, among other causes, which are those that trigger the decision not to continue with the commitment taken, and in the questions personal, it is much more difficult to go back and continue when a relationship breaks down, for example, of course it is not the same that evil weather One day that causes a trip to be canceled, but the next day there is a bright sunny day and then you can travel ...

When personal or family events or events are canceled, it is also ideal to notify the people involved or invited through a communication formal or informal so they know in advance that the event will not go as planned.

Pay a debt

On the other hand, the word cancellation is often used a lot in the economic plane to refer to the cancellation of debts that have been contracted in a timely manner with someone, a natural person, who can be a friend or a relative, or those that are contracted with an entity financial, among others.

The act of canceling a debt implies that the debtor party pays the entire amount owed to the part that lent you money and then from that moment the debt is canceled and no longer exists more.
Nor can any claim be made for it.

Normally what is done is to sign a document in which the lending party and the debtor agree that the debt has been paid in accordance, and there is no balance to be paid.

This document is very important for the duly debtor party because it establishes that it has already canceled what was owed and then it will void any type of claim that they may want make.

Cancellation is one of the concepts that are often used as a synonym for cancellation.

Issues in Cancellation