1. An automatic delay between a person’s taking some legal action and the consequence of that action.
2. A period during which a buyer may cancel a purchase.
3. An automatic delay in some states between the filing of divorce papers and the divorce hearing. [Cases: Divorce 146. C.J.S. Divorce §§ 209–210.]
4. Securities. A period (usu. at least 20 days) between the filing of a registration and the effective registration.
5. During a dispute, a period during which no action may be taken by either side. • In labor disputes, a statutory cooling-off period forbids employee strikes and employer lockouts.
