The term 'ACT OF TURNING DOWN' can be summarized as a REFUSAL, which is a seven-letter word. REFUSAL is the act of declining or rejecting something that has been offered or requested. It is often used in the context of a job offer, where an individual may turn down an offer due to a variety of reasons such as salary, location, or lack of interest. REFUSAL can also be used in other contexts, such as when someone declines an invitation or rejects a proposal.