Legal Question in Business Law in Massachusetts

cancellation of transaction within 3 business days

We signed a contract at 11:30 pm on Thursday the 23rd of March. The contract allows us to cancel without penalty ''within 3 business days from the above date''. Question is...can Thursday actually be counted as a ''business day'' where we signed at 11:30 at night? I can prove the approximate time of signing as the dealer used my telephone to make a long distance call to his boss from my home both at 11:00 and 11:30pm. Anyways, when is 3 business days up, Monday or Tuesday?

Thank you for your help

--name removed--G.


Asked on 3/28/06, 12:01 pm

1 Answer from Attorneys
Lawrence Graves Coolidge & Graves PLLC

Re: cancellation of transaction within 3 business days

You would be in time if cancellation notice was properly provided before 2330 Tuesday -- the "three business days" would be interpreted as starting from the time of closing through (Day 1) 2330 Friday, (Day 2) 2330 Monday, (Day 3) 2330 Tuesday.

If you have time, get the contract to a lawyer to be sure that you properly exercise your cancellation.

Best wishes,

LDWG

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Answered on 3/28/06, 12:25 pm


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