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cooling-off period

noun [C usually singular]
 
 
/ˌkuː.lɪŋˈɒfˌpɪə.ri.əd/ US  /-ˈɑːfˌpɪr.i-/

Definition

an agreed length of time in which someone can decide not to buy something they have agreed to buy, or a period in which two groups who are arguing can try to improve the situation before taking further action: There is a 20-day cooling-off period in which the investor can choose to back out of the contract.Industrial action
(Definition of cooling-off period noun from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)

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