Indiana Code 24-5-10-8. Cancellation of transaction; notice to supplier
(1) the subject of the consumer transaction has a cash sales price of at least twenty-five dollars ($25); and
Terms Used In Indiana Code 24-5-10-8
- business day: means a day other than Sunday or a legal holiday. See Indiana Code 24-5-10-1
- consumer: means an individual who is the ultimate user of the subject of a consumer transaction. See Indiana Code 24-5-10-2
- consumer transaction: means a sale, lease, assignment, award by chance, or other disposition of an item of personal property, real property, a service, or an intangible to an individual for purposes that are primarily personal, family, or household, or a solicitation to supply any of these things, with or without an extension of credit. See Indiana Code 24-5-10-3
- Contract: A legal written agreement that becomes binding when signed.
- person: means an individual, a corporation, the state or its subdivisions or agencies, a business trust, an estate, a trust, a partnership, an association, a cooperative, or any other legal entity. See Indiana Code 24-5-10-5
- supplier: means a seller, lessor, assignor, or other person who engages in or solicits consumer transactions, including a manufacturer, wholesaler, or retailer, whether or not the supplier deals directly with the consumer. See Indiana Code 24-5-10-6
(b) The notice given under subsection (a)(2) must meet the following requirements:
(1) It must be given before midnight of the third business day after the later of the date:
(A) the supplier furnishes the consumer with the notice required by section 9 of this chapter; or
(B) the consumer and the supplier finally agree to the contract for the subject of the consumer transaction.
(2) It must express in any form the consumer’s intention to cancel the consumer transaction.
(3) It must be delivered in person or sent by mail or other device to the address given in the supplier’s notice required by section 9 of this chapter or to the address of the supplier last known to the consumer if such notice was not given.
As added by P.L.251-1987, SEC.2.