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Monday, July 18, 2016

Can I Cancel a Contract, a Purchase, or a Lease Agreement?

The library has put together a research guide on the Cancellation of Consumer Contracts because we often receive questions from Texans asking if, by law, they have 3 days to cancel a purchase or a lease agreement or some other type of contract. According to the Texas Attorney General:

Many consumers are under the impression that they have a 3-day right to cancel any and all consumer purchases. However, this is not true. The right to cancel law applies only to very specific situations.

Always review the terms of the contract or lease agreement you signed to see if it mentions a cancellation period. Some contracts or leases may allow for a “rescission period” during which you can cancel. Our research guide provides references to state laws that provide for a statutory right to cancel a contract in very specific instances such as: