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Simple English definitions for legal terms

cooling-off rule

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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.

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JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
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@JumpySubsequentDolphin: wait this is so cute, also where r u going
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JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
soyalmondoatmilk
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good morning! hoping waves will come our wave today
8:42
GW wave today?
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