cooling-off period
noun
: a period of time that must pass before someone can do something or before an agreement becomes final
The law requires a cooling-off period between the time a gun is purchased and when it may be possessed.
The workers have agreed to a 30-day cooling-off period before they strike.
Once you sign the contract, you have a 14-day cooling-off period within which to change your mind.
Examples of cooling-off period in a Sentence
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In December, the SEC updated Rule 10b5-1, adding stricter requirements such as a cooling-off period of at least 90 days after a plan is adopted or modified.
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Dave Michaels, WSJ, 1 Mar. 2023
Dave Michaels, WSJ, 1 Mar. 2023
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“Cooling-off period.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/cooling-off%20period. Accessed 10 Dec. 2023.
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Legal Definition
cooling-off period
noun
cool·ing-off pe·ri·od
: a period of time (as after a sale or a call to strike) to allow further consideration or negotiation see also Labor Management Relations Act
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