§ 827-7. Restoration of Down Payment  

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  • (a) Except as provided in this section, within 10 days after a home solicitation sale has been cancelled or an offer to purchase has been revoked the seller must tender to the buyer any payments made by the buyer and any note or other evidence of indebtedness.

    (b) If the down payment includes goods traded in, the goods must be tendered in substantially as good condition as when received by the seller. If the seller fails to tender the goods as provided by this section, the buyer must elect to recover an amount equal to the trade-in allowance stated in the agreement.

    (c) Until the seller has complied with the obligations imposed by this section the buyer may retain possession of goods delivered by the seller and has a lien on the goods in buyer's possession or control for any recovery to which buyer is entitled.

    (d) In all events after cancellation or revocation of an offer to purchase buyer shall not be liable for any finance or any other charges and any security interest given by or on behalf of the buyer shall become void.

(C.M.C. 827-7; ordained by Ord. No. 351-1972, eff. Aug. 5, 1972)