A purchaser signs a contract for the sale of residential property in Victoria on a Saturday. When does their cooling-off period expire, assuming no public holidays?
Correct Answer
C) At the end of the following Wednesday
In Victoria, a purchaser may end the contract within 3 clear business days after the day they sign. Saturday and Sunday are not business days, so for a contract signed on Saturday the three clear business days are Monday, Tuesday and Wednesday, and the right expires at the end of Wednesday.
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