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Essay / Research Paper Abstract
This 3 page paper looks at the regulations that govern the cooling off period both in Connecticut and at the federal level. Bibliography lists 1 source.
Page Count:
3 pages (~225 words per page)
File: D0_HVCoolOf.rtf
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Unformatted sample text from the term paper:
used in regard to labor negotiations, where heated discussions can result in both sides leaving the table to "cool off." This paper looks at the regulations that govern the cooling
off period both in Connecticut and at the federal level. Discussion The Connecticut regulations are adapted directly from those of the Federal Trade Commission, so that federal and state regulations
in this case are virtually identical. In fact, the information provided by a Connecticut web site is taken directly from the FTC. "The Rules complete name and citation are: Rule
Concerning Cooling-Off Period for Sales Made at Homes or at Certain Other Locations; 16 CFR Part 429" (Cooling off rule for consumer purchases, 2005). "CFR" stands for Code of Federal
Regulations. The rationale for the cooling off period generally is to give the buyer the option to think about the purchase for a short time. This helps them get their
money back in cases of impulse buys, when children place orders, etc. The cooling-off rule in Connecticut "gives buyers three days to cancel purchase of items costing $25 or
more. A buyers right to cancel a sale for a full refund extends until midnight of the third business day after the sale" (Cooling off rule for consumer purchases, 2005).
This does not apply to all purchases; in fact, many are specifically excluded. The sales covered by the rule are those that occur "at the buyers home, workplace or dormitory,
or to sales at any facilities rented by the seller on a temporary or short-term basis, such as hotel or motel rooms and convention centers. The Cooling-Off Rule applies even
when the salesperson is invited into the buyers home to make a presentation" (Cooling off rule for consumer purchases, 2005). Reading this over, we can speculate that this probably includes
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