Why we should be red hot on cooling off period rights

Speaking as someone who has ordered a thing or two online after a few sherries, only to regret it the next day, I'm a big fan of cooling off periods.

- MARTYN JAMES

A cooling off period is a short window of opportunity where you can change your mind about goods or services you have just purchased. As a general rule, cooling off periods give you 14 days to change your mind. But buyer beware! There are a number of exceptions - and terms and conditions apply.

SHOPPING

There's a nifty law called the Consumer Contract Regulations that gives us the right to cancel contracts when we buy things online within the first 14 days of purchase. This includes 'virtual' goods, like music or computer games and software, (as long as you haven't downloaded them). You may have to pay to return the goods though.

The law also applies to 'off-premises and distance contracts'. These are contracts you don't sign at the location of a business. This could be when a salesperson signs you up for a new sofa when visiting your home, or you agree to a broadband contract on the phone.