Cooling-Off Rule

Counter Wills

A rule that allows you to cancel a contract within a specified time period (typically three days) after signing it. federal cooling-off rules apply this three-day grace period to sales made anywhere other than a seller’s normal place of business. various states have cooling-off rules that sometimes apply even longer cancellation periods to specific types of sales, such as dancing lessons and timeshares.

Was This Term Helpful?

0 out of 0 found this helpful

Still got a question or concern?

Click here to contact us or go back to the main Glossary page.