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Arkansas Code Title 18. Property § 18-14-703. Seller to provide notice of cancellation--Form

Current as of March 28, 2024 | Updated by Findlaw Staff

(a) The seller of a camping site under a time-share plan shall furnish to the buyer at the time the buyer signs the sales contract or otherwise agrees to buy the camping site a complete form in duplicate captioned “NOTICE OF CANCELLATION”, which is attached to the contract or receipt, is easily detachable, and contains in 10-point bold-face type, the following information and statements:

    “NOTICE OF CANCELLATION ..........................................................................

Enter date of transaction

You are entitled to cancel the agreement or offer at any time before midnight of the fifth day, excluding Sundays and holidays, after the day you signed the agreement or offer. If you cancel, the seller must return to you (1) any payments made; (2) any goods or other property (or a sum equal to the amount of the trade-in allowance given therefore 1); and (3) any note or other evidence of indebtedness, given by you to the seller under or with the agreement or offer.

TO CANCEL THIS TRANSACTION, MAIL OR DELIVER A SIGNED AND DATED COPY OF THIS CANCELLATION NOTICE OR ANY OTHER WRITTEN NOTICE TO

(Name of seller)

...................................................................................................

(Address of seller's place of business)

NOT LATER THAN MIDNIGHT OF ........................................................................

(Date)

I HEREBY CANCEL THIS TRANSACTION ..................................................................

(Date)

.................................................

(Buyer's signature)”.

(b) If seller fails to give both oral and written notice of the buyer's right to cancellation, the cooling-off period does not begin to run until actual notice is given.

1 So in original. Probably should read “therefor”.
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Cite this article: FindLaw.com - Arkansas Code Title 18. Property § 18-14-703. Seller to provide notice of cancellation--Form - last updated March 28, 2024 | https://codes.findlaw.com/ar/title-18-property/ar-code-sect-18-14-703/

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