367.46961 Cancellation of contract not reduced to writing -- Exception.
465 words·~2 min read·
/ky/chapter-367/367-46961A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)Unless the contract is reduced to writing in compliance with subsection
(4)of this
section, a consumer may cancel a contract made as a result of a telephone
solicitation and obtain a full refund of all money paid, by returning the goods, if
any, undamaged and unused, or canceling services within the later of:
(a)Fourteen
(14)calendar days following receipt of the goods; or
(b)Fourteen
(14)calendar days following receipt of two
(2)copies of a written
notice of cancellation rights containing the following language in no less than
ten
(10)point, bold-faced type:
NOTICE OF CANCELLATION RIGHTS
BECAUSE YOU AGREED TO BUY THESE GOODS (or services or
other appropriate description) AS A RESULT OF AN UNSOLICITED
TELEPHONE CALL, KENTUCKY LAW GIVES YOU FOURTEEN
(14)DAYS TO CANCEL YOUR AGREEMENT WITH US. IF YOU
WANT TO CANCEL, YOU MUST SIGN YOUR NAME BELOW
AND RETURN A COPY OF THIS NOTICE, TOGETHER WITH
ANY GOODS YOU HAVE RECEIVED, SO THEY ARE
POSTMARKED NO LATER THAN MIDNIGHT OF THE
FOURTEENTH DAY FOLLOWING THE DATE YOU RECEIVED
THE GOODS OR AGREED TO THE SERVICES, OR THE
FOURTEENTH DAY FOLLOWING THE DATE YOU RECEIVED
THIS NOTICE, WHICHEVER IS LATER. THE NOTICE AND
GOODS MUST BE ADDRESSED AS FOLLOWS:
(Name and address of Merchant)
I want to cancel my agreement to purchase.
____________________________________
(Signature)
____________________________________
(Name of Consumer - Printed)
____________________________________
(Address of Consumer - Printed)
____________________________________
(Address - City, State, Zip)
____________________________________
(2)The consumer shall be deemed to have complied with subsection
(1)of this section
if the cancellation notice and goods, if any, are returned to the merchant and are
postmarked by midnight of the fourteenth day.
(3)The merchant shall process the refund due any consumer within thirty
(30)days of
receiving the merchandise returned by the consumer or the written cancellation
provided in subsection
(1)of this section.
(4)The cancellation period provided in subsection
(1)of this section shall not apply to
a written contract signed by the consumer that:
(a)Complies with all applicable federal and state laws and regulations:
(b)Contains a description of the goods, services, investment or business
opportunity, extension of credit, or interest in realty matching the description
used in the telephone solicitation;
(c)Contains the name, address, and telephone number of the merchant, the total
price of the contract, including any finance or interest charges, and a detailed
description of the goods, services, credit, or interest in realty being offered;
(d)Contains all oral or written representations made to the consumer in
connection with the transaction; and
(e)Sets out in at least ten
(10)point, bold-face type, immediately preceding the
signature, the following statement:
YOU ARE NOT OBLIGATED TO PAY ANY
MONEY UNLESS YOU SIGN THIS CONTRACT
AND RETURN IT TO THE MERCHANT.