Many states have laws (statutes) that allow a consumer to cancel a contract or sale made at the consumer’s home, at the home of another person (at an in-home sales party), or at another place that is not the seller’s permanent place of business. A consumer’s right to cancel such a home-solicitation contract is also known as a right to rescind the contract, or a cooling-off rule, and is based on the belief that a consumer is more vulnerable to high pressure sales tactics in such settings, as it is more difficult for the consumer to walk away from the salesperson.

Such buyer’s remorse laws governing a consumer’s right to cancel a sales contract vary from state to state, but the seller generally must give a copy of the contract to the consumer at the time the contract is signed, and it must include a written statement of the consumer’s right to cancel and the proper means of giving the seller notice of the cancellation of the contract.

Under some state laws a consumer does not have the right to cancel such a contract if the consumer requests the seller provide the goods or services without delay in an emergency situation—to protect the health, safety, or welfare of persons, or to prevent damage to the consumer’s property.

The Federal Trade Commission (FTC) also has a cooling-off rule that gives consumers the right to cancel a sale within three days if the sale was made at someone’s home or workplace, or at a seller’s temporary location, such as a hotel room, convention center, fairground, or restaurant. Under the FTC’s Cooling-Off Rule, a seller must inform a consumer of the consumer’s right to cancel at the time of sale, and must give the consumer two copies of a cancellation form and a copy of the contract or receipt. The consumer’s right to cancel for a full refund extends until midnight of the third business day after the sale. The consumer does not have to give a reason for canceling the purchase. There are exceptions to the FTC’s Cooling-Off Rule.

In Michigan, consumers have the right to cancel certain home-solicitation contracts under both state and federal laws. These laws are designed to protect consumers from high-pressure sales tactics that may occur in the comfort of their own homes or other non-commercial settings. Michigan's Home Solicitation Sales Act requires that the seller provides the buyer with a fully completed receipt or copy of any contract pertaining to such a sale at the time of its execution, which must show the date of the transaction and contain the name and address of the seller. The contract must clearly inform the buyer of the right to cancel within three business days and how to cancel, which includes providing a cancellation form that can be sent to the seller. This right to cancel does not apply if the consumer specifically requests the seller to provide goods or services without delay for emergency situations that affect health, safety, or welfare, or to prevent damage to property. Additionally, the Federal Trade Commission's (FTC) Cooling-Off Rule allows consumers to cancel sales made at home, workplace, or temporary locations within three days for a full refund without needing to provide a reason. The seller is required to inform the consumer of this right and provide the necessary cancellation forms at the time of sale. There are certain exceptions to this rule, such as sales under a certain amount, sales of real estate, insurance, or securities, and sales of goods or services not primarily intended for personal, family, or household purposes.