cooling-off period

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. It applies in terms of the Consumer Credit Act 1974 where contracts such as hire-purchase contracts are concluded off trade premises and in the Timeshare Act 1992 and in ever more areas of activity to protect those easily pressured into contracts without seeking time to consider or take advice.

Collins dictionary of law. . 2001.


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 threeday cancellation period must be allowed purchasers following door-to-door sales.

Dictionary from West's Encyclopedia of American Law. 2005.


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 threeday cancellation period must be allowed purchasers following door-to-door sales.

Short Dictionary of (mostly American) Legal Terms and Abbreviations.

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