cooling-off period

cooling-off period
A period of time in which no action of a particular sort may be taken by either side in a dispute. For example, a period of a month after a union or a company files a grievance against the other. During this period, the union may not strike and the company may not lock-out the employees. A period of time in which a buyer may cancel a purchase; e.g. many states by statute require a three-day cancellation period for door-to-door sales or home improvement contracts. An automatic delay in some states, in addition to ordinary court delays, between the filing of divorce papers and the divorce hearing

Black's law dictionary. . 1990.

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  • 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 …   Law dictionary

  • cooling-off period — cooling off periods N COUNT A cooling off period is an agreed period of time during which two sides with opposing views try to resolve a dispute before taking any serious action. There should be a seven day cooling off period between a strike… …   English dictionary

  • Cooling-off period — may refer to: Period of time after a purchase during which the purchaser has the right to return goods for a refund, or to cancel a contract without penalty (see buyer s remorse) Waiting period, the time which a company making an IPO must be… …   Wikipedia

  • cooling-off period — cooling off .period n 1.) BrE a period of time after you have signed some types of sales agreement, when you can change your mind about buying something ▪ Customers signing new life policies will have a cooling off period of 14 days in which to… …   Dictionary of contemporary English

  • cooling–off period — cool·ing–off pe·ri·od n: a period of time (as after a sale or a call to strike) to allow further consideration or negotiation see also labor management relations act in the important laws section Merriam Webster’s Dictionary of Law. Merriam… …   Law dictionary

  • cooling-off period — [ko͞ol′iŋ ôf΄] n. a period of time during which an action, as a strike or a lockout, or a transaction, as the purchase of a gun, may not be effected or completed so as to allow reconsideration of a decision made in haste, under pressure, or due… …   English World dictionary

  • cooling-off period — ► NOUN 1) an interval during which the parties in a dispute can try to settle their differences before taking further action. 2) an interval after a sale contract is agreed during which the purchaser can decide to cancel without loss …   English terms dictionary

  • cooling-off period — The period of time between the filing of a preliminary prospectus with the Securities and Exchange Commission and the actual public offering of the securities. Bloomberg Financial Dictionary The length of time during which a customer can choose… …   Financial and business terms

  • cooling-off period — UK [ˌkuːlɪŋ ˈɒf ˌpɪərɪəd] / US [ˌkulɪŋ ˈɔf ˌpɪrɪəd] noun [countable] Word forms cooling off period : singular cooling off period plural cooling off periods 1) a pause in an argument, especially one between a company s management and employees,… …   English dictionary

  • cooling-off period — /ˌku:lɪŋ ˌɒf ˌpi:riəd/ noun 1. during an industrial dispute, a period when negotiations have to be carried on and no action can be taken by either side 2. a period when a person is allowed to think about something which they have agreed to buy on …   Marketing dictionary in english

  • cooling-off period — noun (C) 1 a period of time when two people or groups who are arguing about something can go away and think about how to improve the situation 2 a period of time after you have signed some types of sales agreement, when you can change your mind… …   Longman dictionary of contemporary English

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