Marcus purchases a one-week time share unit at a Kauai resort on Friday. He receives the required disclosure documents at the time of signing. On the following Friday evening, Marcus has second thoughts and wants to cancel. He sends a written rescission notice by certified mail, postmarked Friday evening. Under HRS Chapter 467B, which of the following best describes the status of Marcus's rescission?
Correct Answer
B) The rescission is valid because the notice was postmarked within seven calendar days of signing and receipt of disclosures
Under HRS Chapter 467B, the rescission period is seven calendar days from the later of signing the contract or receiving the required disclosure documents. Marcus signed and received the disclosure documents on Friday. Counting seven calendar days forward, the period expires at the end of the following Friday — the same day of the week. A written rescission notice postmarked on that Friday (the seventh calendar day) is sent within the statutory period and is therefore valid. HRS Chapter 467B allows written notice by mail as an acceptable method of rescission.
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