Legal Question in Consumer Law in Minnesota

Conflicting statements in a sign document
I recently signed a purchase agreement for a housing cooperative. After learning of some very misleading tactics made by the company representing the cooperative (their rules and regulations make it very difficult, if not impossible to sell your share and receive earned equity) I decided to back out of the agreement. However there are conflicting statements made as to the amount of days in which I may rescind the agreement. I received both a purchase agreement and a Documents Book containing all documents related to the cooperative. The purchase agreement says that there is a 5 day period in which I can rescind. The document book however contains multiple statements saying 15 days. The purchase agreement also states and I quote ''Buyer and Seller understand that these instruments (referring to documents in Documents Book) are legally binding upon them just as if the words written into this signature page'' So which statement prevails? The ones contained in the legally bound Documents Book, or the one written on the agreement. Thanks!

Asked on 4/08/05, 8:50 pm

David Anderson Anderson Business Law LLC

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Re: Conflicting statements in a sign document

I would want to review both documents before advising you. More importantly, how many days have now elapsed?

Have you attempted to rescind in writing?

There may be other remedies, even if the deadline has passed.

I would have some time Monday or Tues. late AM to talk to you and review the documents.

Answered on 4/09/05, 7:13 am

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