What is the legal term for buyers remorse?

Answer 1

OMG "I've been a fool".

Answer 2

Well, there is no real legal term, but sometimes there is a period of time called a "cooling off" period. Some contracts have a statutory cooling off period wherein the buyer can change his or her mind. Unfortunately, there are pretty restrictive. The only one that comes immediately to mind is a contract for solicited sale (door to door) and that is only 3 days. There is no cooling off period in CA (at least) for auto purchases unless they are for used cars under $25,000 and the contract contains this. Sorry.

Answer 3

I don't think this is the answer you're looking for; I doubt there is a legal one. However, in Ancient Rome, if a citizen purchased something and that item turned out to be defective or not what they expected, and they went to court over it, the judge would often simply declare, "Cavaet emptor," if my knowledge of Latin spelling remains intact. Literally, it means, "Let the buyer beware." Translation: You bought it, you assumed the risk, it's your problem.

Answer 4

"Ichangedmymind-itis." no, sorry, no idea. My husband, a car salesman, always just says buyer's remorse. It's a reason a lot of people back out of their car buying contracts, and yes, it's legal.

Answer 5

There really isn't a legal term. It just means that you made an impulse purchase and, after the fact, wish you didn't buy it.

Answer 6

Buyersus Remorsus.

Answer 7

Around here it is called "Right of Rescission."

On major purchases you get three days to change your mind and rescind the purchase. After that rescission you are supposed to get all your money back within three weeks.

It is to protect people against door-to-door salespeople and foolishly taking out house loans.

Answer 8

Marriage.

Answer 9

Lawsuit?

Answer 10

broke