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 Minnesota, consumers have the right to cancel certain types of sales contracts under both state and federal laws. These laws are designed to protect consumers from high-pressure sales tactics that may occur during in-home sales or at locations that are not the seller's permanent place of business. Minnesota statutes require that the seller provide the consumer with a copy of the contract at the time of signing, which must include a statement of the consumer's right to cancel. The consumer must be informed about how to notify the seller of the cancellation. However, this right to cancel may not apply in emergency situations where the consumer has requested immediate goods or services to protect health, safety, or property. Additionally, the Federal Trade Commission's (FTC) Cooling-Off Rule allows consumers to cancel a sale within three days if the sale occurs at a home, workplace, or temporary location. The seller is obligated to inform the consumer of their right to cancel at the time of sale, provide two copies of a cancellation form, and a copy of the contract or receipt. The right to cancel under the FTC rule extends until midnight of the third business day after the sale, without the need for the consumer to provide a reason for cancellation. There are certain exceptions to this rule, such as sales that are 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.