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.

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.
References in periodicals archive ?
We spoke to at least three different coaches who were with either of these teams and all oppose the cooling off period.
Yes, even for the post of president, a cooling off period is required," he said.
Currently switching takes around five weeks, which includes a statutory twoweek cooling off period that came into force in June.
The seven working day cooling off period usually starts on the day after you receive the goods.
In the final text, there will be a cooling off period of 14 days, in which the buyer may change his/her mind and no partial payment may be demanded.
When skirmishes followed the referee told the teams to leave the field for a cooling off period but was then subjected to severe verbal abuse.
OTE members must provide a cooling off period of 15 days, while the EU Timeshare Directive provides a minimum 10-day cooling off period, in which it is permitted to change your mind and get your money back.
We have had to take a bit of time out and have a bit of a cooling off period," said Klass.
officials said the Secretary of State wants to set a timeline for implementing the Mitchell committee recommendations, starting with a limited cooling off period of a few weeks duration.
Mr Griffiths said the EU Timeshare Directive was a good model for protection because it provided: a right to a cooling off period for people who decide to buy into a timeshare; a ban on taking deposits during the cooling off period; and the right toaccu rate prior information in the buyer's own language.
This notice initiates a mandatory 10-day cooling off period amid which DISH and NBCUniversal can pursue negotiating and impacted programming is needed to remain available to DISH customers.