cooling-off period

English

Noun

cooling-off period (plural cooling-off periods)

A length of time in which the two sides to a purchase agreement, or contract can think things over and cancel with no penalty. This period is often stipulated by national law. In the UK it is currently (2008) 14 days. In many countries it is 10 days.

See also

buyer's remorse

This article is issued from Wiktionary. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.