The three day cooling off period would normally apply to courses of instruction or training. However, the fact that the entire contract was done over the telephone, may take this outside of the three day period and prevent you from canceling it, once you signed the contract. At the same time, you may have defenses to raise, which could render the contract void, as a result of the duress which you state you were under OR do to the fact that you did not receive this proprietary information, which they said was a condition to not being able to cancel it. Moreover, there should be something stated within the contract, that talks about your right to cancel, if any and the time in which it needs to be done, if you wanted to. If you signed the contract online, it should have disclosed everything and placed you on notice to the obligation and commitment that you were making. The Federal Trade Commission talks about the colling off period and when it applies, so I have added that text to my response for you to review. If there is no basis to cancel the contract, the next step would be to try and negotiate with them a settlement to get out of it to prevent any type of lawsuit from possible being filed.

The Cooling-Off Rule: When and How to Cancel a Sale

If you buy something at a store and later change your mind, you may not be
able to return the merchandise. But if you buy an item in your home or at a
location that is not the seller's permanent place of business, you may have the
option. The Federal Trade Commission's (FTC's) Cooling-Off Rule gives you three
days to cancel purchases of $25 or more. Under the Cooling-Off Rule, your right
to cancel for a full refund extends until midnight of the third business day
after the sale.

The Cooling-Off Rule applies to sales at the buyer's home, workplace or
dormitory, or at facilities rented by the seller on a temporary or short-term
basis, such as hotel or motel rooms, convention centers, fairgrounds and
restaurants. The Cooling-Off Rule applies even when you invite the salesperson
to make a presentation in your home.

Under the Cooling-Off Rule, the salesperson must tell you about your
cancellation rights at the time of sale. The salesperson also must give you two
copies of a cancellation form (one to keep and one to send) and a copy of your
contract or receipt. The contract or receipt should be dated, show the name and
address of the seller, and explain your right to cancel. The contract or receipt
must be in the same language that's used in the sales presentation.

Some Exceptions

Some types of sales cannot be canceled even if they do occur in locations
normally covered by the Rule. The Cooling-Off Rule does not cover sales
that:

• are under $25;
  
• are for goods or services not primarily intended for personal, family or
  household purposes. (The Rule applies to courses of instruction or training.);
  
• are made entirely by mail or telephone;
  
• are the result of prior negotiations at the seller's permanent business
  location where the goods are sold regularly;
  
• are needed to meet an emergency. Suppose insects suddenly appear in your
  home, and you waive your right to cancel;
  
• are made as part of your request for the seller to do repairs or maintenance
  on your personal property (purchases made beyond the maintenance or repair
  request are covered).

Also exempt from the Cooling-Off Rule are sales that involve:

• real estate, insurance, or securities;
  
• automobiles, vans, trucks, or other motor vehicles sold at temporary
  locations, provided the seller has at least one permanent place of business;
  
• arts or crafts sold at fairs or locations such as shopping malls, civic
  centers, and schools.

How to Cancel

To cancel a sale, sign and date one copy of the cancellation form. Mail it to
the address given for cancellation, making sure the envelope is post-marked
before midnight of the third business day after the contract date. (Saturday is
considered a business day; Sundays and federal holidays are not.) Because proof
of the mailing date and proof of receipt are important, consider sending the
cancellation form by certified mail so you can get a return receipt. Or,
consider hand delivering the cancellation notice before midnight of the third
business day. Keep the other copy of the cancellation form for your records.

If the seller did not give cancellation forms, you can write your own
cancellation letter. It must be post-marked within three business days of the
sale.

You do not have to give a reason for canceling your purchase. You have a
right to change your mind.

If You Cancel

If you cancel your purchase, the seller has 10 days to:

• Cancel and return any promissory note or other negotiable instrument you
  signed;
  
• refund all your money and tell you whether any product you still have will
  be picked up; and
  
• return any trade-in.

Within 20 days, the seller must either pick up the items left with you, or
reimburse you for mailing expenses, if you agree to send back the items.

If you received any goods from the seller, you must make them available to
the seller in as good condition as when you received them. If you do not make
the items available to the seller - or if you agree to return the items but fail
to - you remain obligated under the contract.

Problems

If you have a complaint about sales practices that involve the Cooling-Off
Rule, write: Consumer Response Center, Federal Trade Commission, Washington, DC
20580. The Rule's complete name and citation are: Rule Concerning Cooling-Off
Period for Sales Made at Homes or at Certain Other Locations; 16 CFR Part
429.

You also may wish to contact a consumer protection office in your city,
county, or state. Some state laws give you even more rights than the FTC's
Cooling-Off Rule, and some local consumer offices can help you resolve your
complaint.

In addition, if you paid for your purchase with a credit card and a billing
dispute arises about the purchase (for example, if the merchandise shipped was
not what you ordered), you can notify the credit card company that you want to
dispute the purchase. Under the Fair Credit Billing Act, the credit card company
must acknowledge your dispute in writing and conduct a reasonable investigation
of your problem. You may withhold payment of the amount in dispute, until the
dispute is resolved. (You are still required to pay any part of your bill that
is not in dispute.) To protect your rights under the Fair Credit Billing Act,
you must send a written notice about the problem to the credit card company at
the address for billing disputes specified on your billing statement within 60
days after the first bill containing the disputed amount is mailed to you.

If the 60-day period has expired or if your dispute concerns the quality of
the merchandise purchased, you may have other rights under the Act. If you have
questions about the Fair Credit Billing Act, see the FTC's brochure, Fair Credit Billing, or order a free
copy by writing to: XXXXX XXXXX Center, Federal Trade Commission,
Washington, DC 20580.

The FTC works to prevent fraudulent, deceptive and unfair business practices
in the marketplace and to provide information to help consumers spot, stop and
avoid them. To file a complaint or get free information on consumer issues, visit ftc.gov or call toll-free, 1-877-FTC-HELP
(1-877-382-4357); TTY: 1-866-653-4261. Watch a video, How to File a
Complaint, at ftc.gov/video to learn more. The FTC
enters consumer complaints into the Consumer Sentinel
Network, a secure online database and investigative tool used by hundreds of
civil and criminal law enforcement agencies in the U.S. and abroad.

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