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Richard - Bizlaw
Richard - Bizlaw, Attorney
Category: Business Law
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Experience:  30 years of corporate, litigation and international law
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Concerning the right to rescind (in State of Georgia) what

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Concerning the right to rescind (in State of Georgia) what is suppose to happen to the money paid by the purchaser during the 3 day right to rescind period? Should the contractor "hold" the check during this3 day period and then cash/deposit it or should it be held until after the 3rd day; or is there regulation of this element of the process?

bizlaw :

Hello, I will try to help you. Please remember I just report or interpret the law, so the outcome may not be what you hoped for. This part of the procedure is not regulated. However, since you have 10 days to return the customer's money once it is cancelled the best procedure is to deposit the check immediately. If the contract is cancelled you can return the money as soon as your bank has collected the funds on the deposited check. If I have answered all your questions, please rate my answer excellent as that is how I am compensated. If you have more questions, please let me know. If the answer was especially helpful you can provide a bonus.

Richard - Bizlaw and 3 other Business Law Specialists are ready to help you
Hi David,

I'm just following up with you to see how everything is going. Did my answer help?

Let me know,if you have any more questions.

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