(815 ILCS 505/2B) (from Ch. 121 1/2, par. 262B)
Sec. 2B.
Where a sale of merchandise involving $25 or more is made or
contracted to be made whether under a single contract or under multiple
contracts, to a consumer by a seller
who is physically present at the
consumer's residence, that consumer may avoid the
contract or transaction by notifying the seller within 3 full business days
following that day on which the contract was signed or the sale was made
and by returning to the person, in its original condition,
any merchandise
delivered to the consumer under the contract or sale. At the
time the transaction is made
or the contract signed, the person shall furnish the consumer with
a fully completed
receipt or contract pertaining to the transaction, in substantially the
same language as that principally used in the oral presentation to the
consumer,
containing a "Notice of Cancellation"
informing the
consumer that he may cancel the transaction at
any time within 3 days and showing the date of the transaction
with the name and address of the person, and in immediate
proximity to the space reserved in the contract for the consumer's signature
or on the front page of the receipt if a contract is not used, a statement
which shall be in bold face type, in at least 10-point type and in substantially
the following form:
"YOU, THE CONSUMER, MAY CANCEL THIS TRANSACTION AT ANY TIME PRIOR TO
MIDNIGHT OF THE THIRD BUSINESS DAY AFTER THE DATE OF THIS TRANSACTION.
SEE THE ATTACHED NOTICE OF CANCELLATION FORM FOR AN EXPLANATION OF THIS RIGHT."
Attached to the receipt or contract shall be a completed form in duplicate,
captioned "NOTICE OF CANCELLATION" which shall be easily detachable and
which shall contain in 10 point bold face type the following information
and statements in the same language as that used in the contract:
NOTICE OF CANCELLATION
(enter date of transaction)
...........................
(Date)
YOU MAY CANCEL THIS TRANSACTION, WITHOUT ANY PENALTY OR OBLIGATION, WITHIN
3 BUSINESS DAYS FROM THE ABOVE DATE.
IF YOU CANCEL, ANY PROPERTY TRADED IN, ANY PAYMENTS MADE BY YOU, AND ANY
NEGOTIABLE INSTRUMENT EXECUTED BY YOU UNDER THE CONTRACT OR TRANSACTION
WILL BE RETURNED WITHIN 10 BUSINESS DAYS FOLLOWING RECEIPT BY THE SELLER
OF YOUR CANCELLATION NOTICE, AND ANY SECURITY INTEREST ARISING OUT OF THE
TRANSACTION WILL BE CANCELLED.
IF YOU CANCEL, YOU MUST MAKE AVAILABLE TO THE SELLER AT YOUR RESIDENCE
IN SUBSTANTIALLY AS GOOD A CONDITION AS WHEN RECEIVED, ANY GOODS
DELIVERED TO YOU UNDER THIS CONTRACT OR TRANSACTION, 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 MAKE THE GOODS AVAILABLE TO THE SELLER AND THE SELLER DOES NOT PICK
THEM UP WITHIN 20 DAYS OF THE DATE OF YOUR NOTICE OF CANCELLATION, YOU MAY
RETAIN OR DISPOSE OF THE GOODS WITHOUT ANY FURTHER
OBLIGATION. IF YOU FAIL TO MAKE THE GOODS AVAILABLE TO THE SELLER, OR IF
YOU AGREE TO RETURN THE GOODS TO THE SELLER AND FAIL TO
DO SO, THEN YOU REMAIN LIABLE FOR PERFORMANCE OF ALL OBLIGATIONS UNDER THE CONTRACT.
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).
I HEREBY CANCEL THIS TRANSACTION.
(Date) ............
...................
(Buyer's signature)
Such written "Notice of Cancellation" may be sent by the consumer to the person to
cancel the contract. The 3 day period provided for in this Section does not
commence until the consumer is furnished
a "Notice of Cancellation", and the
address at which such notice to the seller can be given. If
those conditions are met, the seller must return to the consumer the full
amount of any payment made or consideration given under the contract or for
the merchandise. It is an unlawful practice within the meaning of this Act
for any person to
(a) Fail, before furnishing copies of the "Notice of Cancellation" to
the consumer, to complete the copies by entering the name of the person,
the address of the person's place of business, the date of the transaction,
and the date, not earlier than the third business day following the date
of the transaction, by which the consumer may give notice of cancellation;
(b) Include in any contract or receipt under this Section any confession
of judgment or any waiver of any of the rights to which the consumer is entitled
under this Section including specifically his right to cancel the transaction
in accordance with the provisions of this Section;
(c) Fail to inform each consumer orally, at the time he signs the contract
or purchases or leases the goods or services, of his right to cancel;
(d) Misrepresent in any manner the consumer's right to cancel;
(e) Use any undue influence, coercion or any other wilful act or representation
to interfere with the consumer's exercise of his rights under this Section;
(f) Fail or refuse to honor any valid notice of cancellation by a consumer
and within 10 business days after the receipt of such notice, to
(i) refund all payments made under the contract or |
(g) Negotiate, transfer, sell, or assign any note or other evidence of
indebtedness to a finance company or other third party prior to midnight
of the fifth business day following the day the contract was signed or the
goods or services were purchased or leased; or
(h) Fail, within 10 business days of receipt of the consumer's notice
of cancellation, to notify him whether the seller intends to repossess or
to abandon any shipped or delivered goods.
For the purposes of this Section, the word "sale" includes a sale, lease or rental.
This Section does not apply to any transaction
(a) made pursuant to prior negotiations in the course of a visit by the
consumer to a retail business establishment having a fixed permanent location
where the goods are exhibited, or the services are offered, for sale or
lease on a continuing basis;
(b) in which the consumer is accorded the right of rescission by the provisions
of the Consumer Credit Protection Act (15 U.S.C. 1635) or regulations issued
pursuant thereto;
(c) in which the consumer has initiated the contact and the goods or services
are needed to meet a bona fide immediate personal emergency of the consumer,
and the consumer furnishes the person with a separate dated and signed personal
statement in the consumer's handwriting describing the situation requiring
immediate remedy and expressly acknowledging and waiving the right to cancel
the sale within 3 business days;
(d) conducted and consummated entirely by mail or telephone without any
other contact between the consumer and the person or its representative
prior to delivery of the goods or performance of the services;
(e) in which the consumer has initiated the contact and specifically requested
the person to visit his home for the purpose of repairing or performing
maintenance upon the consumer's personal property, on the condition that
if, in the course of such a visit, the person sells the consumer the right
to receive additional services or goods other than replacement parts
necessarily
used in performing the maintenance or in making the repairs, the sale of
those additional goods or services does not fall within this exclusion;
(f) pertaining to the sale or rental of real property, to the
sale of insurance
or to the sale of securities or commodities by a broker-dealer
registered with the Securities and Exchange Commission; or
(g) between a consumer and a loan broker licensed under the
Residential Mortgage License Act of 1987 when (i) the transaction involves
obtaining a mortgage loan on real estate and (ii) the first contact respecting
the transaction is initiated by the consumer or by another person at the
request of the consumer.
(Source: P.A. 90-764, eff. 1-1-99.)
|