The legal effect of the creditor's exercise of the cancellation right:
 1. Effectiveness against the debtor. Once the debtor's act is revoked, it is invalid from the beginning. If the debtor has concluded a sales contract with others but has not yet delivered the property, the contract will become invalid from the beginning due to cancellation.
 2. Effect on the assignee. After the debtor's improper disposition of property is revoked, if the property has been possessed or benefited by the assignee, they shall return their property and income to the revocation right holder. If the original object cannot be returned, they shall make compensation at the price.
 3. Effect on creditors. After the creditor exercises the cancellation right, if it directly receives the performance of the assignee, the property interests it receives cannot be used exclusively to pay off its own creditor's rights, nor can it set off its own debts with the debtor.
 [Legal Basis]
 In Article 538 of the Civil Code, if the debtor disposes of property rights and interests for free by giving up his creditor's rights, giving up the guarantee of creditor's rights, transferring property for free, or maliciously prolongs the time limit for the performance of his creditor's rights due, which affects the realization of the creditor's rights, the creditor may request the people's court to revoke the debtor's act.
 Article 539 of the Civil Code states that if the debtor transfers property at an obviously unreasonable low price, accepts another's property at an obviously unreasonable high price, or provides security for another's debt, which affects the realization of the creditor's rights, and the debtor's counterpart knows or should know the situation, the creditor may request the people's court to revoke the debtor's act.