right of rescission
Definition
The right of a consumer to nullify a contract within three business days of signing it without paying a penalty or down payment.
Use right of rescission in a sentence
“ You should try and break down the right of rescission to make sure that you are doing all that is expected of you. ”
“ After noticing a number of discrepancies in the contract he had just signed for an order of 100 new computers, the customer used his right of rescission to cancel the contract. ”
“ After taking the weekend to carefully consider his option, John decided to use his right of rescission to nullify the agreement that he had tentatively made on Friday. ”
