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| Name | Do all contracts have a 3 day right to cancel |
| Video Uploader | Video From LawTube |
| Upload Date | This Video Uploaded At 01-02-2024 16:00:36 |
| Video Discription | Attorney Tom Olsen is host of the Olsen on Law Radio Show in Orlando. Tom has been answering legal questions on his radio show for over 35 years and has been practicing law in Orlando for 40 years. The Olsen on Law Radio Show is America’s longest running legal radio show. Produced by Professional Media Ideas. Call or text Chrissy Merrill at 321-207-8384 or by email at [email protected]. Attorney Tom Olsen: Chrissy, Bruce's call reminded me of a segment that I did on the news last week, and it was about people's three-day right to cancel contracts. We know, we get calls on a regular basis- Attorney Chrissy Merrill: Correct. Tom: from people that have signed contracts to Chrissy: Anything. [chuckles] Tom: -anything. Buy a house, buy a car, buy a water heater, you name it. They call us up and go, "Don't I have a three-day right to cancel this contract? Don't all contracts have a three-day right to cancel?" Chrissy: It's interesting. People have that perception. Tom: They do. Chrissy: They think all contracts. Tom: Yes. That is not the case. There's only a few situations where the law absolutely requires that you be given a three-day right to cancel. One is for home improvements, two is when you refinance your loan, and three is for door-to-door sales. Most people would recognize that, oh, that's why when I refinance my home, which a vast majority of people have done over the years, that's why three days later I had to sign a form saying I don't cancel this contract. That's why they got to wait three days to finalize my refinance because the law requires it. Chrissy: Exactly. Tom: Now if the law requires that there be a three-day right to cancel this contract, the law also requires that there be big, bold language in there about this three-day right to cancel and exactly how you do this cancellation. If you do have a three-day right to cancel within your contract, it is not hidden somewhere in the fine print. It's right there, big, bold. Now some companies, they're not required to give you a three-day right to cancel, but out of their goodwill, and God bless them, they do give you a three-day right to cancel. For example, Carvana. You buy a car from Carvana; it says there, you've got seven days to back out of this deal. Chrissy: That's really good to know because that's not the case with most car dealers. Tom: Oh, no. Most used-car dealers, it's as is. You drive it off the lot, you own it, baby. If you're buying a used car, that in and of itself would be a reason to buy it from a dealer or a car seller that allows you to unwind the deal. Tom: Hey, folks. My name is Tom Olsen. The name of the show is Olsen on Law. You're listening to NewsRadio WFLA. |
| Category | Education |
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