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 ?
(NYSE: ZAYO) has announced the early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"), in connection with the previously announced acquisition by affiliates of Digital Colony Partners ("Digital Colony") and the EQT Infrastructure IV fund ("EQT" or "EQT Infrastructure").
The Expedited Disability Insurance Payments for Terminally Ill Individuals Act expedites the payment of Social Security Disability Insurance (SSDI) benefits to individuals who will not live long enough to receive any benefits under the five-month waiting period in existing law.
The DoJ noted that the companies failed to observe the required waiting period. The complaint indicated that the scheme devised by Canon and Toshiba "had no purpose" other than to complete the sale of TMSC prior to March 31, 2016, and avoid the HSR Act's waiting period requirements.
The termination of the waiting period under the HSR Act satisfies one of the conditions to the closing of the pending acquisition, which remains subject to other customary closing conditions, including approval from Anadarko's stockholders.
Currently Brezza has a waiting period of four-six weeks.
At present, the model has a waiting period of four-six weeks.
The expiration of the waiting period is one of the conditions needed for the completion of the transaction.
The law requires that mergers cannot move ahead before the completion of a waiting period designed to give the Federal Trade Commission and the Department of Justice time to investigate and sign off on the transaction.
According to the researchers, having a waiting period between when people buy a gun and when they receive it creates time for people to reflect upon their plans, which is what helps reduce the gun-related violence.
Also, three-quarters favor enacting a 30-day waiting period for all gun purchases and 70% favor requiring all privately owned guns to be registered with the police.
On October 2 Polk County District Court Judge Jeffrey Farrell ruled that Iowa's three-day waiting period is constitutional, rejecting a challenge from Planned Parenthood of the Heartland and the American Civil Liberties Union of Iowa, which sued in May.
M2 PHARMA-October 20, 2016-Allergan reports expiry of Hart-Scott-Rodino Waiting Period for proposed acquisition of Tobira