ISSN: 2222-6990
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Cooling-off period gives customers a window of time during which they can withdraw from a signed contract with little to no penalty. The Consumer Protection Act (Act 599), Malaysia's primary consumer protection law, does not guarantee the protection of a cooling-off period, unlike the legal position in the UK, Australia, New Zealand and the US. It is recommended that a cooling-off period clause is included in the Act 599, because consumers are most likely to profit from them in markets where there is a short window of time between the beginning of the transaction. As an alternative, it's pertinent to consider the idea of a "opt in" clause, where the contract will take into effect only when the customer "opts in" (confirms) within a specified time after being approached by the seller by getting in touch with the business and indicating that they want to proceed.
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In-Text Citation: (Abdullah, 2022)
To Cite this Article: Abdullah, N. C. (2022). Cooling-Off Period in The Purchase of Goods In Malaysia: Comparison with Selected Countries. International Journal of Academic Research in Business and Social Sciences, 12(12), 73 – 82.
Copyright: © 2022 The Author(s)
Published by Human Resource Management Academic Research Society (www.hrmars.com)
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