407.673. Contract, requirements, right to cancel.

285 words·~1 min read·/mo/chapter-407/407-673

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

407.673. Contract, requirements, right to cancel. — 1. A fully completed copy of every contract shall be delivered to the member at the time the contract is signed. Every contract shall constitute the entire agreement between seller and member, shall be in writing, shall be signed by the member, shall designate the date on which the member signed the contract and shall state, clearly and conspicuously, in boldface type of minimum size of 14-points, in immediate proximity to the space reserved for the signature of the buyer, the following:

MEMBER'S RIGHT TO CANCEL

If you wish to cancel this contract, you may cancel by delivering or mailing a written notice to the company. Certified mail would provide greater protection than first-class mail, but is not necessary. If you deliver the notice personally, you are entitled to a receipt. Your notice must make known that you do not wish to be bound by the contract. If the notice is delivered or mailed before midnight of the third business day after you sign this contract, you are entitled to a refund of the entire consideration paid for the contract. The notice must be delivered or mailed to

_________________________________________________________________

(Insert name and mailing address of company).

If you cancel, the club is required to return, within fourteen days of the date on which you give notice of cancellation, any payments you have made.

2. Until the buying club has complied with this section, the member may cancel the contract by notifying the buying club, in any manner and by any means, of his intention to cancel and is then entitled to a refund of the entire consideration paid for the contract.

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(L. 1988 H.B. 988)