Under home solicitation rules, the cancellation deadline ends at midnight of the 3rd business day after the transaction. True or False?

Under home solicitation rules, the cancellation deadline ends at midnight of the 3rd business day after the transaction. True or False?

• A. True
• B. False
• C. Only for certain products
• D. Not specified

Answer: (A)

Under California's Home Solicitation Sales Act, a consumer has a cooling-off period of three business days to cancel after a home solicitation sale. The deadline ends at midnight of the third business day following the transaction, counting only business days and starting the day after the sale is made. For example, if the contract is signed on Thursday, the cancellation deadline would be the midnight of the following Tuesday. Weekends and holidays don’t count as business days. So the statement is true.

Under California's Home Solicitation Sales Act, a consumer has a cooling-off period of three business days to cancel after a home solicitation sale. The deadline ends at midnight of the third business day following the transaction, counting only business days and starting the day after the sale is made. For example, if the contract is signed on Thursday, the cancellation deadline would be the midnight of the following Tuesday. Weekends and holidays don’t count as business days. So the statement is true.