Definition of cancel verb from the Oxford Advanced Learner's Dictionary

cancel

verb

ˈkænsl

ˈkænsl

cancelling, cancelled, US canceling, canceled

1 [transitive] cancel something to decide that something that has been arranged will not now take placeAll flights have been cancelled because of bad weather.The wedding was cancelled at the last minute.Don't forget to cancel the newspaper (= arrange for it not to be delivered) before going away. compare postpone

2 [transitive, intransitive] cancel (something) to say that you no longer want to continue with an agreement, especially one that has been legally arrangedto cancel a policy/subscriptionIs it too late to cancel my order?The US has agreed to cancel debts (= say that they no longer need to be paid) totalling $10 million.No charge will be made if you cancel within 10 days.3 [transitive] cancel something to mark a ticket or stamp so that it cannot be used again

Phrasal verbs

cancel out

cancel something out

if two or more things cancel out or one cancels out the other, they are equally important but have an opposite effect on a situation so that the situation does not changeRecent losses have cancelled out any profits made at the start of the year.The advantages and disadvantages would appear to cancel each other out.