Researching On The Legal System Of Cooling-off Period

With the further development of market economy in China, transactions has become increasingly complex, the rights and benefits of consumer are more vulnerable. Particularly in the door-to-door sales, remote transactions, installment, consumer credit, franchising, etc. How to safeguard the rights and benefits of consumers effectually is a difficult problem in China to lawmakers. Review foreign advanced experience in legislation, cooling-off period of consumer protection is an important system. The system of cooling-off period not only embodies the equality, autonomy, honesty and credit principle which are the soul of Civil Law, but also reflects the essence of the Government involvement and adjustment in economy. This system is the necessity of developing market economy. It bases on the game theory and consumer sovereignty. And it also confirms to the international trend of consumer protection.Cooling-off period is an important system of consumer protection. By endowing the consumers with the right of withdrawing without reasons, and not to undertake responsibility of breach of contract after signing a contract for a period of time and asking the operator to undertake the responsibility for termination of the contract ,the system can restore the original state before signing the contract.Drawing lessons from the foreign advanced legislative experience about the system of cooling-off period , in order to make the best proposal, on the one hand, it is suggested that ,in legislation mode, "special protections of the rights and interests of consumers" should be added into Law of the People's Republic of China on Protecting Consumers' Rights and Interests and it also should be added or discussed with "revocable consumer credit contracts" clause, which refers to Contract Law of the People's Republic of China, on the other hand, specific legislation for this system should be done when the time is ripe. In the content of system, the design of the system of cooling-off period should concern on the scope of the whole system, the exercising of revocable rights, litigation validity, legal effect, prohibiting the abuse of rights, etc. especially the protection on the new fields such as B2C, C2C, and time share and on.