30-14-504. Buyer's right to cancel -- time allowed -- notice -- return of goods. (1) Except as provided in subsection (5), in addition to any right otherwise to revoke an offer, the buyer or any other person obligated for any part of the purchase price may cancel a personal solicitation sale until midnight of the third business day after the day on which the buyer has signed an agreement or offer to purchase relating to the sale, provided that in the case of a personal solicitation sale made by telephone, the buyer may cancel at any time prior to the buyer's signing of an agreement or offer to purchase relating to the sale.
(2) Cancellation occurs when written notice of cancellation is given to the seller.
(3) Notice of cancellation, if given by mail, is considered given when deposited in a mailbox properly addressed and postage prepaid.
(4) Notice of cancellation need not take the form prescribed and is sufficient if it indicates the intention of the buyer not to be bound.
(5) A personal solicitation sale may not be canceled if, in the case of goods, the goods cannot be returned to the seller in substantially the same condition as when received by the buyer.
History: En. Sec. 3, Ch. 426, L. 1973; amd. Sec. 4, Ch. 191, L. 1977; R.C.M. 1947, 85-503; amd. Sec. 964, Ch. 56, L. 2009.
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