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CANCELING A CONTRACT: THE COOLING-OFF RULE Prepared by OFFSET AFB LEGAL OFFICE The Following Information is Attributed to FTC.gov normally covered by the Rule. The Cooling Rule THE COOLING-OFF RULE

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What is canceling a contract?

Canceling a contract is the act of terminating a legally binding agreement between two or more parties.

Who is required to file canceling a contract?

The parties involved in the contract are required to file canceling a contract.

How to fill out canceling a contract?

To fill out canceling a contract, parties must include the details of the agreement being terminated and sign the document.

What is the purpose of canceling a contract?

The purpose of canceling a contract is to legally end an agreement and release the parties from their obligations.

What information must be reported on canceling a contract?

Information such as the parties involved, the contract details, the reason for termination, and the date of cancellation must be reported on canceling a contract.

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