Cooling-off Period Law and Legal Definition

Cooling-off period has different meaning under different context:

1. During a dispute, a period during which no action of a particular sort may be taken by either side.

2. A period during which a buyer may cancel a purchase.

3. An automatic delay in some states between the filing of divorce papers and the divorce hearing.

4. In securities law, a period between the filing of a registration and the effective registration.