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.