Legal Question in Consumer Law in Colorado
Grace Period
When a contract to purchase a car is signed, is there a grace period (by law) during which a consumer has the right to cancel that contract? Or is it binding from the day it is signed?
Asked on 2/18/02, 2:26 pm
1 Answer from Attorneys
Charles Griffin
Law Offices of The Griffin Firm, LLC
Re: Grace Period
In South Carolina, there is no grace period for returning an automobile. There is a federal law that applies to real estate refinancings of one's home that require a 3 day right of recission.
You may be able to cancel the contract for fraud or violation of the Uniform Commercial Code if the facts allow it.
Answered on 2/18/02, 3:30 pm
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