Laws, courts and authorities
right of withdrawal
In short and in plain language
The right of withdrawal is a right that consumers have.
They can use it to leave a contract without giving a reason. They must do so within a time limit set by law.
It can apply to contracts made by email, phone or website. It can also apply to contracts made away from a firm's rooms.
In that case, a notice on withdrawal usually goes with it.
Definition
A consumer's right to withdraw from a contract within a statutory period without giving reasons. It can apply to contracts concluded by email, phone, website or away from business premises. In that case a withdrawal notice is usually part of it.