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 ?
The OC points out to business owners that they should take note that spectacles and other prescription medical devices remain exempt from the cooling-off period.
The case then enters a final thirty-day cooling-off period during which the parties will be encouraged to accept the PEB's recommendations.
Pedone, D-Worcester, for suggesting the cooling-off period.
MsMcCarthy said: "I have caseswhere my constituents have been pressurised into signing agreements whilst on holiday, but when back home, in the cold light of day, have changed their minds, but the company has not honoured the cooling-off period and they have had to fight to get their money back.
If NMB officially releases the parties from talks, a 30-day cooling-off period would ensue before a strike could commence.
Ultimately, the best way to keep Iraq together is to give each community a cooling-off period in its own region.
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.
The Car Buyer's Bill of Rights, authored by Assemblywoman Cindy Montanez, D-San Fernando, would allow used-car buyers to have a two-day cooling-off period in which they could return a vehicle for any reason.
This cooling-off period is also being characterized by a slower rate of change than at any previous time since the early 1990s.
We have had to take a bit of time out and have a bit of a cooling-off period," said Klass.