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

Recent Examples on the Web

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. —Dave Michaels, WSJ, 1 Mar. 2023

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