§ 555A.3 — Cancellation

Iowa § 555A.3

• Jurisdiction: Iowa
• Title XIV: PROPERTY
• Ch. 555A: DOOR-TO-DOOR SALES

Text

Every seller shall furnish each buyer, at the time the buyer signs the door-to-door sales
contract or otherwise agrees to buy consumer goods or services from the seller, a completed
form in duplicate, captioned “Notice of Cancellation”, which shall be attached to the contract
or receipt and easily detachable, and which shall contain in ten point boldface type the
following information and statements in the same language as that used in the contract:
NOTICE OF CANCELLATION
....................................................
(enter date of transaction)
You may cancel this transaction, without any penalty or
obligation, within three business days from the above date.
If you cancel, any property traded in, any payments made by you
under the contract or sale, and any negotiable instrument executed
by you will be returned within ten business days following receipt
by the seller of your cancellation notice, and any security interest
arising out of the transaction will be canceled.
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 or sale; or you may if
you wish, comply with the instructions of the seller regarding the
return shipment of the goods at the seller’s expense and risk.
If you do not agree to return the goods to the seller or if 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.
To cancel this transaction, mail or deliver a signed and dated copy
of this cancellation notice or any other written notice, or send a
telegram, to ........................, (Name of seller) at ................................
(Address of seller’s place of business) not later than midnight of
........................ (Date).
3 DOOR-TO-DOOR SALES, §555A.6
I hereby cancel this transaction.
................................................
(Date)
............................................
(Buyer’s signature)

Legislative History

[C75, 77, §713B.3; C79, 81, §82.3]