How to I restore my acer aspire laptop to factory settings. With windows 7? i dont have a CD?

In order to do this, you need to have a recovery partition on your hard drive. Whether you do or not...nobody knows. Hit Alt-F10 at bootup when you see the Acer splash screen. If it goes into recovery mode, you're good to go. Otherwise, you probably don't have to recovery partition on your hard drive.