Under the Consumer Protection Act, buyers have a 10-day cooling-off period to cancel contracts for certain types of goods and services, including:
- Door-to-door sales
- Timeshare contracts
- Health club memberships
- Correspondence courses
Buyers must cancel these contracts in writing within 10 days of signing the contract.
Under the Motor Vehicle Dealers Act, buyers have a three-day cooling-off period to cancel contracts for used vehicles. Buyers must cancel these contracts in writing within three days of taking possession of the vehicle.
In addition to these specific laws, there are also some general principles of contract law that may allow buyers to cancel contracts, such as:
- Mistake: If a buyer makes a mistake about a material fact when entering into a contract, they may be able to cancel the contract.
- Fraud: If a buyer is induced to enter into a contract by fraud, they may be able to cancel the contract.
- Misrepresentation: If a seller makes a misrepresentation about a material fact when entering into a contract, the buyer may be able to cancel the contract.
If you are considering cancelling a contract, it is important to speak to a lawyer to discuss your rights and options.
