Reversal (contra entry, correction entry; payment; cancellation; stop order)

The cancellation of an entry item by an offsetting entry instead of crossing it out. – In older financial language, the settlement of a debt, also called cancellation. – The cancellation (rescission) of a contractual agreement in general and of an insurance contract in particular. – The revocation of an order to a broker to execute agreed transactions on. – See balancing entry, close-out, mistrade, stop order, cancellation quote, payment.

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