Also means
to pay off
Usage Note
Cancelar means to cancel an event, subscription, or agreement, but in Latin American Spanish it also commonly means to pay or settle a debt (cancelar una deuda, cancelar la cuenta). In Spain the payment sense is unusual and pagar or saldar is preferred instead. This regional split is a genuine false friend for learners moving between varieties.
Examples
"Tuvieron que cancelar el concierto por la lluvia."
Natural Translation
They had to cancel the concert due to the rain.
Related Words
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