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Ellen
Ellen, Attorney
Category: Business Law
Satisfied Customers: 36714
Experience:  25 years of experience helping people like you.
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the three day right to recend include what days

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the three day right to recend include what days?

WebLaw :

*Due to rules of your state bar or mine, nothing herein is intended as legal advice, only intended as general information to better help yourself.*

WebLaw :



Pursuant to Title 16 of the Code of Federal Regulations, the three day right of rescission Is based upon calendar days unless the 3rd day falls on a weekend or holiday, in which case the 3 day right of rescission ends on the next business day

Customer:

IF I BOUGHT SOMETHING FROM A SALESMEN IN MY HOME ON A THURSDAY, MY 3 DAY RIGHT TO RESCIND IS UP ON MONDAY OR TUESDAY?

WebLaw :

Monday

WebLaw :

Monday is the 3rd day

Customer:

THANK YOU SO MUCH! THIS TELLS ME THAT SATURDAY IS CONSIDERED A BUSINESS DAY. RIGHT?

WebLaw :

No Saturday is not a business day. Calendar days are considered in the 3 day right of rescission. It is only if the 3rd day falls on a nonbusiness day that the 3rd day is the next business day

WebLaw :

In your situation I counted days as follows

WebLaw :

Friday day one, Saturday day 2, Sunday day 3

WebLaw :

since Sunday is not a business day, the right of rescission may be exercised on Monday

WebLaw :


Please let me know if you have any questions concerning my answer. Otherwise please click accept.

Customer:

I WILL ACCEPT YOUR ANSWER, BUT PLEASE CLARIFY. IF I HAVE 3 BUSINESS DAYS TO RECIND, AND I SIGNED ON THURSDAY, ISN'T THE THREE BUSINESS DAYS FRIDAY, MONDAY AND TUESDAY?

WebLaw :

Yes you are correct-- it is 3 business days Friday Monday and Tuesday.You may read the actual statute at this link: http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr&tpl=/ecfrbrowse/Title16/16cfr429_main_02.tpl

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