cooling-off period
- A set duration following actions such as a sale or a call to strike, during which parties can reconsider their decisions or engage in further discussions
- After signing the auto purchase agreement, the customer entered a cooling-off period of ten days for any potential reconsiderations.
- Union members called a strike but offered a cooling-off period for the management to propose a new wage deal.
- The consumer was grateful for the cooling-off period after buying an expensive piece of jewelry, as she got cold feet about the transaction.
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