§ 6-32-4 - Notice required on agreement. - Rhode Island Statutes

SECTION 6-32-4

   § 6-32-4  Notice required on agreement.– (a) No lay away sale shall be effective unless a written memorandum of the saleis signed and dated by the buyer and unless it conspicuously contains thefollowing directly above the space reserved in the agreement or sales slip forthe signature of the buyer:

   Notice to buyer:

   (1) You are entitled to a copy of this document at the timeyou sign it.

   (2) You may at any time pay off the full unpaid balance dueunder this agreement, and in so doing you may be entitled to receive a partialrebate of the finance and insurance charges, if any.

   (3) You may cancel this agreement provided you notify theseller in person or by registered or certified mail, which shall be given notlater than midnight of the tenth calendar day after the day on which the buyersigns the agreement, excluding Sunday and any holiday on which regular maildeliveries are not made.

   (b) The seller is not precluded from using his or her ownform of notice provided it at least affords the consumer the protection of thestatutory notice.