A salesperson dates the agreement two days earlier than the day the buyer actually signs. What does the statute require?
Correct Answer
A) The transaction date must be the date the buyer actually signs
Section 501.031(1) requires the seller to obtain the buyer's signature to a written agreement or offer to purchase "which designates, as the date of the transaction, the date on which the buyer actually signs". Backdating would shorten the cancellation period the buyer is entitled to.
Why This Is the Correct Answer
Section 501.031(1) requires the seller to obtain the buyer's signature to a written agreement or offer to purchase "which designates, as the date of the transaction, the date on which the buyer actually signs". Backdating would shorten the cancellation period the buyer is entitled to.
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