Thomas purchases a timeshare week in a Key West resort but wants to cancel after reading the contract at home. Under Florida timeshare law, how long does Thomas have to cancel without penalty?
Correct Answer
A) 10 calendar days from contract signing or receipt of public offering statement, whichever is later
Correct: A - 10 calendar days from contract signing or receipt of public offering statement, whichever is later. Florida timeshare law provides a 10-calendar-day cancellation period from contract signing or receipt of the public offering statement, whichever occurs later. Why not B: This option is incorrect because "3 business days from contract signing" does not match the rule tested by the question. The correct answer is "10 calendar days from contract signing or receipt of public offering statement, whichever is later". Florida timeshare law provides a 10-calendar-day cancellation period from contract signing or receipt of the public offering statement, whichever occurs later. Why not C: This option is incorrect because "7 calendar days from contract signing" does not match the rule tested by the question. The correct answer is "10 calendar days from contract signing or receipt of public offering statement, whichever is later". Florida timeshare law provides a 10-calendar-day cancellation period from contract signing or receipt of the public offering statement, whichever occurs later. Why not D: This option is incorrect because "15 days from the first payment" does not match the rule tested by the question. The correct answer is "10 calendar days from contract signing or receipt of public offering statement, whichever is later". Florida timeshare law provides a 10-calendar-day cancellation period from contract signing or receipt of the public offering statement, whichever occurs later.
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