In the UK we have the Distance Selling Act which is basicly the same thing except 7 days not 14.
You can demand a refund for a product bought online (with exceptions, eg. food isn't covered obviously) within 7 days of ARRIVING (not 7 days from purchase), and the supplier must grant it by law so long as you return the products undamaged and in original condition.
So yeah it would be perfectly acceptable for me to buy an LCD, open it, find it has dead pixels, package it back up again and ask for a refund.
However, as with all things, there are disadvantages. The disadvantage with this system is that the DSA doesn't specify who pays shipping for the return of the product. So obviously the suppliers make the customer pay it. Shipping for a 17" panel isn't going to be cheap, so if possible I'd like to try and get it right first time.