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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
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?
Monday is the 3rd day
THANK YOU SO MUCH! THIS TELLS ME THAT SATURDAY IS CONSIDERED A BUSINESS DAY. RIGHT?
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
In your situation I counted days as follows
Friday day one, Saturday day 2, Sunday day 3
since Sunday is not a business day, the right of rescission may be exercised on Monday
Please let me know if you have any questions concerning my answer. Otherwise please click accept.
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?
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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