Legal Question in Consumer Law in Michigan

I have a lease question

I signed a contract to lease a credit card terminal and to get help in starting an online business. A few minutes after I was done and I was in a better frame of mind I looked over the lease and realized it was one of the dumbest things I've ever done. I was too excited at the thought of starting an online business and getting help that I did not realize how terrible the lease was. My question is if there is a cool-off period? I live in Michigan the person that sold me the lease was in Dallas, TX and the lease holder in California. The deal was done on the phone and through email. The talking was on phone and documents were sent through email. The lease says on it non-cancelable and they did not say anything about a cool off period. I want to know if there is one and if so, should they have informed me about it?


Asked on 1/16/08, 6:16 pm

1 Answer from Attorneys
Renee Walsh LawRefs Nonprofit

Re: I have a lease question

If I were you, I would cancel the lease in writing immediately. I would inform them that the lease is not legal. I would ensure that my credit card / bank was aware that no payment should be made.

If taken to court, this is a federal court case since multiple states are involved. It is probably not worth the trouble for the company to press the issue as the entire site would be scrutinized and attorneys are expensive.

If they press the issue, have an attorney look at the lease. A clause that says non-cancelable is probably not a legal clause, but an attorney could take the entire lease into consideration.

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Answered on 1/16/08, 8:02 pm


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