NOUN (2)

1. the act of cancelling; calling off some arrangement;

2. the speech act of revoking or annulling or making void;

The Collaborative International Dictionary of English v.0.48:

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 factors, in
      both the dividend and divisor.
      [1913 Webster]

WordNet (r) 3.0 (2006):

cancellation
    n 1: the act of cancelling; calling off some arrangement
    2: the speech act of revoking or annulling or making void

Moby Thesaurus II by Grady Ward, 1.0:

133 Moby Thesaurus words for "cancellation":
   abandonment, abbreviation, abolishment, abolition, abridgment,
   abrogation, annulment, arabesque, basketry, basketwork, blot,
   blotting, blotting out, blue-penciling, bowdlerization, cancel,
   canceling, cancelling, cassation, censoring, censorship, cessation,
   counterbalancing, countermand, counterorder, cross-hatching,
   crossing-out, defeasance, deletion, discontinuance, editing,
   effacement, elimination, erasure, expunction, expurgation,
   filigree, frank, fret, fretwork, frustration, grace period, grate,
   grating, grid, gridiron, grille, grillwork, hachure, hatching,
   interlacement, intertexture, intertwinement, invalidation, lace,
   lacery, lacework, lacing, lattice, latticework, mesh, meshes,
   meshwork, moratorium, net, netting, network, neutralization,
   nullification, obliteration, offsetting, omission, plexure, plexus,
   postage, postage stamp, postmark, raddle, recall, recantation,
   renege, repeal, rescinding, rescindment, rescission, reticle,
   reticulation, reticule, reticulum, retraction, reversal,
   revocation, revoke, revokement, riddle, screen, screening,
   scrubbing, setting aside, sieve, stamp, stoppage, striking,
   suppression, suspension, termination, texture, thwarting, tissue,
   tracery, trellis, trelliswork, undoing, vacation, vacatur,
   vitiation, voidance, voiding, waiver, waiving, washing out, wattle,
   weave, weaving, web, webbing, webwork, weft, wicker, wickerwork,
   wiping out, withdrawal, write-off



Bouvier's Law Dictionary, Revised 6th Ed (1856):

CANCELLATION. Its general acceptation, is the act of crossing a writing; it
is used sometimes to signify the manual operation of tearing or destroying
the instrument itself. Hyde v. Hyde, 1 Eq. Cas. Abr. 409; Rob. on Wills,
367, n.
     2. Cancelling a will, animo revocandi, is a revocation of it, and it is
unnecessary to show a complete destruction or obliteration. 2 B. & B. 650; 3
B. & A. 489; 2 Bl. R. 1043; 2 Nott & M'Cord, 272; Whart. Dig. Wills, c.; 4
Mass. 462. When a duplicate has been cancelled, animo revocandi, it is the
cancellation of both parts. 2 Lee, Ecc. R. 532.
     3. But the mere act of cancelling a will is nothing, unless it be done
animo revocandi, and evidence is admissible to show, quo animo, the testator
cancelled it., 7 Johns. 394 2 Dall. 266; S. C. 2 Yeates, 170; 4 Serg. &
Rawle, 297; cited 2 Dall. 267, n.; 3 Hen. & Munf. 502; Rob. on Wills, 365;
Lovel, 178; Toll. on Ex'rs, Index, h.t.; 3 Stark. Ev. 1714; 1 Adams' Rep.
529 Mass. 307; 5 Conn. 262; 4 Wend. 474; 4 Wend. 585; 1 Harr. & M'H. 162; 4
Conn. 550; 8 Verm. 373; 1 N. H. Rep. 1; 4 N. H. Rep. 191; 2 Eccl. Rep. 23.
     4. As to the effect of cancelling a deed, which has not been recorded,
see 1 Adams' Rep. 1; Palm. 403; Latch. 226; Gilb. Law, Ev. 109, 110; 2 H.
Bl. 263: 2 Johns. 87 1 Greenl. R. 78; 10 Mass. 403; 9 Pick. 105; 4 N. H.
Rep. 191; Greenl. Ev. Sec. 265; 5 Conn. 262; 4 Conn. 450; 5 Conn. 86; 2
John. R. 84; 4 Yerg. 375; 6 Mass. 24; 11 Mass. 337; 2 Curt. Ecc. R. 458.
     5. As to when a court of equity will order an agreement or other
instrument to be cancelled and delivered up, see 4 Bouv. Inst. n. 3917-22.