 Consumer Rights: Cancellation of Contracts
Contrary to popular belief, there generally is NO three-day right to cancel contracts or purchases in Colorado. However, there are a few exceptions to this rule.
For example, you have a three-day "cooling off" period for door-to-door sales of $25.00 or more. The door-to-door salesman must give you written notice of your right to cancel.
You have a three-day "cooling off" period if you purchase services, or goods which could result in a mechanic's lien on your home. (Examples are: air conditioning, storm windows, and aluminum siding.) You also have a three-day "cooling off" period on home solicitation sales, if you will be making five or more payments, excluding the down payment. These laws do not include emergency services such as plumbing repairs.
Health club contracts may be cancelled within three days after you receive your copy of the contract.
Buyer's Club memberships may be cancelled in writing by the close of business on the next business day.
Cash donations to charitable organizations (whether or not they include a purchase) may be cancelled before midnight of the third business day, after you receive written confirmation of your contribution from the charity. However, donations of used goods such as clothing, toys, furniture and appliances have a one-day cancellation period.
In most instances, telephone solicitation sales can be cancelled within three business days after receipt of the goods or services.
Credit repair contracts must contain written notice of your right to cancel, which is within five working-days from the date the contract is signed.
Time-share contracts may be cancelled within five calendar- days after the sale.
If you purchase a hearing aid, you have 30 calendar-days after you receive it to request a refund.
Dance Club Studio contracts may be cancelled at any time during the contract term. However, you must still pay for 10% of the contract, plus the lessons you have already received.
Your notice of cancellation should always be in writing. You may want to send the notice by certified, or registered mail so that you will have proof of when you sent the notice, and that the company received it.
Remember, you have no statutory right to cancel a completed sale of a car. Basically, when you drive the car off the lot, it's yours.
So, when signing a contract, be cautious, never assume that you will be able to cancel it. Before you sign a contract make sure you understand it. Take your time, and be certain you know your rights before you sign.
Courtesy of Colorado Department Of Law
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