§ 37-2-503. Form of agreement or offer; statement of buyer's rights.

282 words·~1 min read·/sc/title-37-consumer-protection-code/chapter-2/credit-sales/37-2-503·

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

(1)In a home solicitation sale, unless the buyer requests the seller to provide goods or services without delay in an emergency (subsection

(5)of Section 37-2-502), the seller shall present to the buyer and obtain his signature to a written agreement or offer to purchase that designates as the date of the transaction the date on which the buyer actually signs and contains a statement of the buyer's rights that complies with subsection (2). A copy of any writing required by this subsection to be signed by the buyer, completed at least as to the date of the transaction and the name and mailing address of the seller, shall be given to the buyer at the time he signs the writing.

(2)The statement shall either:

(a)comply with any notice of cancellation or similar requirement of any trade regulation rule of the Federal Trade Commission which by its terms applies to the home solicitation sale; or

(b)appear under the conspicuous caption: "BUYER'S RIGHT TO CANCEL," and read as follows: "If you decide you do not want the goods or services, you may cancel this agreement by mailing a notice to the seller. The notice must say that you do not want the goods or services and must be mailed before midnight of the third business day after you sign this agreement. The notice must be mailed to:

(insert name & mailing address of seller)

(3)Until the seller has complied with this section the buyer may cancel the home solicitation sale by notifying the seller in any manner and by any means of his intention to cancel.