Legal Question in Business Law in Ohio

Legal ''out'' of a contract

Is it true that a person has 72 hours after signing a contract to ''change their mind'', leaving the contract void?


Asked on 7/22/08, 4:16 pm

1 Answer from Attorneys

Robert Rosplock Rosplock & Perez

Re: Legal ''out'' of a contract

This right to cancel a contract within 72 hours applies to a consumer (non-business) transaction which either:

1. Is made in your home and the Seller has no regular place of business, like a store or showroom, or

2. Places a mortgage on real property.

Other contracts are not covered. For example, if you go to a car dealer's place of business and purchase a car, you DO NOT have the right to cancel the contract for 72 hours. The contract is binding when you sign it.

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Answered on 7/22/08, 4:43 pm


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