N.Y. Personal Property Law 443 – Form of notice; statement of buyer's rights
§ 443. Form of notice; statement of buyer's rights. 1. In a telephone sale, the seller shall furnish to the buyer, in the same language as that principally used in the sales presentation, a written notice, which shall contain in not less than ten-point boldface type, a statement in substantially the following form:
Terms Used In N.Y. Personal Property Law 443
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
"You, the buyer, may cancel this transaction without any penalty or obligation at any time prior to midnight of the third business day after receipt of this notice. If you cancel, any payments made by you under the sale will be credited to your charge account within ten business days following receipt by the seller of your written notice of cancellation and any security interest arising out of the transaction will be cancelled.
If you cancel, you must make available to the seller at your residence, in substantially as good condition as when received, any goods delivered to you under this contract of sale; or you may, if you wish, comply with the instruction of the seller regarding the return shipment of the goods at the seller's expense and risk.
If you do make the goods available to the seller and the seller does not pick them up within twenty days of the date of your notice of cancellation, you may retain or dispose of the goods without any further obligation. If you fail to make the goods available to the seller, or if you agree to return the goods to the seller and fail to do so, then you remain liable for performance of all obligations under the contract.
To cancel this transaction, mail or deliver a written notice of cancellation, or send a telegram to (name of seller) at the following address (address of seller)".
2. Until the seller has informed the buyer of his right to cancel and has complied with the provisions of this article, the buyer or any other person obligated for any part of the purchase price may cancel the telephone sale by notifying the seller in any manner and by any means of his intention to cancel. The period prescribed by subdivision one of this section shall begin to run from the time the seller complies with the provisions of this article.
3. Pursuant to subdivision one of this section, the seller is required to furnish the buyer with the seller's name, and the name of the person to whom any notice of cancellation is to be given if different from the seller's name, the legal name of the company for whom the seller is soliciting, the seller's street address and the seller's phone number. The seller is additionally required to furnish the buyer with the date of the telephone sale and a description of the telephone sale.