407.937. Right to cancel contract--notice of cancellation, effective when--form of cancellation. - Missouri Statutes

Right to cancel contract--notice of cancellation, effective when--formof cancellation.

407.937. 1. In addition to any other right under law torescind a contract, an owner has the right to cancel a contractuntil midnight of the third business day after the day on whichthe owner signs a contract which complies with section 407.938.

2. The term "third business day" shall exclude allintervening Saturdays, Sundays and national and state holidays.

3. Notice of cancellation, if given by mail, is effectivewhen deposited in the mail properly addressed with postageprepaid.

4. Notice of cancellation given by the owner need not takethe particular form as provided with the contract and, howeverexpressed, is effective if it indicates the intention of theowner not to be bound by the contract.

(L. 1992 S.B. 705 § 3)