cooling-off period

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Cooling-Off Period

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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

cooling-off period

a time during which a person can withdraw from a binding contract without any serious penalty. A cooling-off period is not normally available. Such provisions can be found in relation to CANCELLATION of consumer credit contracts, TIMESHARE contracts and DISTANCE SELLING contracts among others.
Collins Dictionary of Law © W.J. Stewart, 2006
References in periodicals archive ?
"During a 20-day period, they flawlessly executed an unprecedented 132 percent increase in volume by processing 2,579 critical aviation and surface depot level repairable retrograde assets in support of the operation."
During the 20-day period, the CA will conduct a summary hearing to determine whether to lift or modify the freeze order, or to extend its effectivity.
PacifiCorp filed a proof of claim, and then a motion, asserting that it was entitled to an administrative priority claim under Section 503(b)(9) of the Bankruptcy Code in the amount of $84,253.95 for the value of electricity it had supplied to Escalera during the 20-day period prior to the Petition Date.
According to the SEC's complaint, Gilbertson enlisted friends and associates including Douglas Hoskins to choreograph extensive sales and purchases of Dakota Plains stock and cause the price to skyrocket from 30 cents to more than $12 per share during that 20-day period. The allegedly inflated stock price obligated Dakota Plains to make bonus payments of more than $32.8 million to Gilbertson and others.
He explained that equipment in fertiliser factories is maintained annually over a 15- to 20-day period once operations are suspended.
Under this second tranche, the company issued new securities representing 3.40% percent of its issued and outstanding share capital, on a fully diluted basis, at a price per ADS USD21.84, which is reportedly equal to the volume weighted average price of the ADS' for the trailing 20-day period ending on and including 9 August 2016, for an aggregate purchase price of USD20m.
Australian authorities said his application for a resident's visa was refused and then cancelled his current business visa, claiming he was in breach of the 20-day period to exit the country.
In this context, 20-day period the highest coefficient of correlation was obtained in the AA+CC treatment (r = 0.99, p < 0.0001), followed by AA (r = 0.97, p = 0.0046).
Another key point of the proposed regulations was an extension of the 20-day period the IRS may grant in its discretion upon a showing of good cause, i.e., if, prior to the expiration of the 20-day period, the material adviser establishes that he or she cannot reasonably meet that deadline despite diligent efforts to maintain the materials constituting a list and to make it available in the time and manner requested.
That dwarfs the amount of contributions reported by fellow front-runner Lucy Vinis in the same 20-day period: $6,200.
In addition, Sosei and Pfizer Seiyaku KK (Pfizer KK) have entered into an equity agreement under which Pfizer KK will purchase USD33 million of newly issued Sosei common stock at a premium of 25% to the average closing price during the 20-day period prior to the closing date.
Of the 13 makeshift hospitals MSF assists in the area, the death toll from just six of them was 377, including 105 children, during the worst 20-day period.