§ 25A-40. Form of agreement or offer; statement of buyer's rights.
§25A‑40. Form of agreement or offer; statement of buyer's rights.
(a) In a home‑solicitationsale the seller must present to the buyer and obtain his signature to a fullycompleted written agreement or offer to purchase which is in the same languageas that principally used in the oral sales presentation and which designates asthe date of the transaction the date on which the buyer actually signs andwhich contains the name and address of the seller, and which contains inimmediate proximity to the space reserved for the signature of the buyer inbold face type of a minimum size of 10 points, a statement in substantially thefollowing form:
"You, the buyer, may cancel this transaction atany time prior to midnight of the third business day after the date of thistransaction. See the attached Notice of Cancellation form for an explanation ofthis right."
(b) The seller must, inaddition to furnishing the buyer with a copy of the contract or offer topurchase, furnish to the buyer at the time he signs the home‑solicitationsale contract or otherwise agrees to buy consumer goods or services from theseller, a completed form in duplicate, captioned "Notice ofCancellation," which shall be attached to the contract and easilydetachable, and which shall contain in 10 point bold face type the followinginformation and statements in the same language as that used in the contract:
"Notice of Cancellation
(enterdate of transaction)
____________________________________
(date)
You may cancel this transaction, without any penaltyor obligation, within three business days from the above date.
If you cancel, any property traded in, and paymentsmade by you under the contract or sale, and any negotiable instrument executedby you will be returned within 10 business days following receipt by the sellerof your cancellation notice, and any security interest arising out of thetransaction will be canceled.
If you cancel, you must make available to the sellerat your residence, in substantially as good condition as when received, anygoods delivered to you under this contract or sale; or you may, if you wish,comply with the instructions of the seller regarding the return shipment of thegoods at the seller's expense and risk.
If you do make the goods available to the seller andthe seller does not pick them up within 20 days of the date of your notice ofcancellation, you may retain or dispose of the goods without any furtherobligation. If you fail to make the goods available to the seller, or if youagree to return the goods to the seller and fail to do so, then you remainliable for performance of all obligations under the contract.
To cancel this transaction, mail or deliver a signedand dated copy of this cancellation notice or any other written notice, or senda telegram to _________________
(nameof seller)
at______________________________,
(address of seller'splace of business)
not later than midnight of__________________
(date)
I hereby cancel thistransaction.
______________________
(date)
_____________________
(Buyer's Signature)"
(1971, c. 796, s. 1; 1975, c. 805, s. 2.)