Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

cooling-off rule

Read a random definition: notarial protest certificate

A quick definition of cooling-off rule:

The cooling-off rule is a law that gives you the right to cancel a contract within a few days after signing it. This means that if you change your mind about a purchase, you can cancel it and get a full refund. The seller must tell you about this right when you make the purchase and give you a copy of the contract and a cancellation form. You have three business days to cancel the sale, and this rule applies to purchases of at least $25 made outside of the seller's normal place of business, such as at a trade show or in your home. However, it does not apply to online, mail, or telephone sales, or to certain types of purchases like insurance or art/crafts sold at fairs. Some states have their own cooling-off rules that may be similar or broader than the federal rule.

A more thorough explanation:

The Cooling-off Rule is a law that gives consumers the right to cancel a contract within a few days after signing it. This rule applies to sales, leases, or rentals of consumer goods and services that have a value of at least $25, made anywhere other than the seller's normal place of business.

For example, if you buy a vacuum cleaner from a door-to-door salesperson, you have three days to change your mind and cancel the contract. The seller must inform you of your right to cancel and provide you with a copy of the sales contract and two copies of the cancellation form. You have until midnight of the third business day after the sale to cancel.

The Cooling-off Rule applies to sales made at trade shows, conventions, and even when a salesperson makes a presentation in your home. However, it does not apply to sales made entirely online, via mail, or telephone. It also does not apply to insurance, securities, art/crafts sold at fairs, and automobiles sold directly at temporary locations such as auto shows.

Many states have laws regarding cooling-off rules, and the laws in most states resemble the federal rules. Some states have broader rules, such as Ohio, which allows cooling-off periods for sales of business opportunity plans and hearing aids in addition to the consumer goods and services covered under the federal cooling-off rule.

cookie | cooperative

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
TGM
18:41
not sure if I should email them to say that, or just hold off on sending it and not give an excuse
18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
LSD+ is ad-free, with DMs, discounts, case briefs & more.