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Cooling-Off Period |
Also found in: Dictionary/thesaurus, Financial, Wikipedia | 0.01 sec. |
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An interval of time during which no action of a specific type can be taken by either side in a dispute. An automatic delay in certain jurisdictions, apart from ordinary court delays, between the time when Divorce papers are filed and the divorce hearing takes place. An amount of time within which a buyer is permitted to cancel a contract for the purchase of consumer goods—designed to effect Consumer Protection. A number of states require that a three-day cancellation period must be allowed purchasers following door-to-door sales. A cooling-off period is frequently used in labor disputes. There might, for example, be a period of one month following the filing of a grievance by a union or company against the other, during which neither the union nor the company is allowed to take retaliatory actions against each other. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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