325.050. Cancellation of agreement, when, how. - Missouri Statutes

Cancellation of agreement, when, how.

325.050. 1. The owner of damaged property has the right tocancel any agreement entered into with a licensed public adjusteror licensed public adjuster solicitor until midnight of the thirdbusiness day after the day on which the agreement was signed.

2. Cancellation occurs when the buyer gives written noticeof cancellation to the licensed public adjuster or licensedpublic adjuster solicitor at the address stated in the agreementbetween the parties. Notice of cancellation may be given by mailand is given when deposited in a United States mail box properlyaddressed and postage prepaid. Notice of cancellation mustcontain the written intention of the owner to cancel theagreement. No liability accrues to the owner when the agreementis canceled within said period, except for reasonable expensesincurred in preserving the damaged premises during the saidthree-day period.

(L. 1973 S.B. 28 § 9)