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Definition

Cancellation is notification to a vendor that a buyer does not wish to accept ordered merchandise. Also, it is merchandise declared surplus by retailers, often sold in broken lots to discount houses or liquidators. (Out-of-style or slightly damaged shoes are frequently sold as "cancellation shoes.")[1]

References

  1. ^ American Marketing Association. Dictionary. <https://www.ama.org/resources/Pages/Dictionary.aspx> (cited 12 May 2015).

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