Do I have 3 days to cancel the transaction in Ohio?
Depending on the type of transaction, a consumer can cancel within three days of the initial transaction and receive a full refund. The lawyers at Doucet & Associates Co., L.P.A. have successful experience handling cases involving consumer law statutes such as the Prepaid Entertainment Contracts Act (PECA), Truth In Lending Act (TILA), Home Solicitation Sales Act (HSSA), and the Ohio Lemon Laws that protect your right to cancel a transaction and a refund. Although most transactions are not protected by a statute with a three-day cancellation right, many consumer transactions involving contracts for specific goods or services are protected.
Prepaid Entertainment Contracts:
The PECA requires servicers to provide specific documents and cancellation rights to consumers when they are signing a contract. Servicers must tell consumers orally about a right to cancel the contract and give two printed copies of the cancellation rights along with the agreement to the consumer. Gym memberships, dance studios, dating services, massage companies and spas, martial arts facilities, sport clubs, weight reduction centers, and other services requiring regular payments are examples of prepaid entertainment contracts.
Truth In Lending Act:
The TILA protects consumers involved in contracts with borrowed funds with creditors and lenders. Essentially the TILA forces loan companies and credit card companies to provide all information regarding interest rates, other fees, due dates, payments, and cancellation rights before a consumer signs a contract. The most common borrowed funds and spending habits protected by TILA include auto loans, home loans, mortgage refinances, credit cards, and debit cards.
Home Solicitation Sales Act:
The HSSA in Ohio protects consumer transactions that take place outside a company’s regular place of business and usually inside a buyer’s home. The vender is required to tell the consumer their business name, business address, and give a copy of any contracts verifying any purchases to the consumer when conducting a home solicitation sale. This contract should include the buyers signature, the date the agreement was made, and two copies of the buyers right to cancel. The vender must also orally notify the buyer of their three day right to cancel and refund all payments within ten business days if the consumer does choose to cancel.
Ohio Lemon Laws
The Ohio Lemon Laws protect consumers buying brand new automobiles and dealing with auto repairs. New vehicles are protected under the lemon laws for the first 12 months the consumer owns the vehicle or for the first 18,000 miles the vehicle is driven. Whichever comes first ends the consumer’s protection period according to the lemon laws, although a consumer may sue years later as long as the issue was raised during this period.
During this time the consumer has to ask the manufacturer to fix the problem before turning it into a legal matter. If the problem is considered a manufacturer error and cannot be fixed during a reasonable amount of time, then the consumer might have the possibility to receive a refund or replacement. A consumer choosing a full refund is entitled to collect the entire amount paid on the new vehicle, transportation costs, charges for manufacturer services, registration fees, license fees, warranty charges and other fees.
Most used vehicles are sold “as is” and are not protected by the Ohio Lemon Laws. Therefore, consumers do not have a three day right to cancel the transaction in Ohio. When a vehicle is sold “as is”, it means the vehicle is being sold in its current condition. You, as the new owner, are accepting all responsibilities for known and unknown problems with the vehicle after the transaction has been made. Dealerships selling used cars “as is” must clearly state and tell consumers about the “as is” policy before they agree to buy the car and explain any warranties the vehicle may still be protected by.
The lawyers at Doucet & Associates Co., L.P.A. have helped consumers fight against businesses for violating cancellation rights. If your cancellation rights have been violated and you are seeking legal representation, please contact us today at (614)944-5219 or send us a message online by clicking here. You can also find more information about Prepaid Entertainment Contracts, the Truth In Lending Act, Home Solicitation Sales Act, and the Ohio Lemon Laws on our website.
Doucet & Associates Co., L.P.A. can also prepare and demonstrate a free one hour presentation for you or your company about related legal issues. Call us today at (614)944-5219 to learn more about this opportunity.