Iowa Code 555A.2 – Contract
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Iowa Code 555A.2
- Business day: means any calendar day except Saturday, Sunday, or public holiday, including holidays observed on Mondays. See Iowa Code 555A.1
- Contract: A legal written agreement that becomes binding when signed.
- Door-to-door sale: means a sale, lease, or rental of consumer goods or services with a purchase price of twenty-five dollars or more, whether under single or multiple contracts, in which the seller or the seller's representative personally solicits the sale, including those in response to or following an invitation by the buyer, and the buyer's agreement or offer to purchase is made at a place other than the place of business of the seller. See Iowa Code 555A.1
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Seller: means any person engaged in the door-to-door sale of consumer goods or services. See Iowa Code 555A.1
- Signature: includes an electronic signature as defined in section 554D. See Iowa Code 4.1
Every seller shall furnish the buyer with a fully completed receipt or copy of any contract pertaining to a door-to-door sale at the time of its execution, which is in the same language as that principally used in the oral sales presentation and which shows the date of the transaction and contains the name and address of the seller, and in immediate proximity to the space reserved in the contract for the signature of the buyer or on the front page of the receipt if a contract is not used and in boldface type of a minimum size of ten points, a statement in substantially the following form:
You, the buyer, may cancel this transaction at any time prior to midnight of the third business day after the date of this transaction. See the attached notice of cancellation form for an explanation of this right.