Thomas is purchasing a resale condominium in Alexandria, Virginia. He receives the resale certificate from the seller on a Friday afternoon. Thomas reviews the documents over the weekend and decides on Monday morning that he wants to rescind the contract. Under the Virginia Condominium Act, has Thomas exercised his rescission right in time?
Correct Answer
D) Yes, because the 3-day period does not count the day of receipt, making Monday the third calendar day and within the rescission window
Under the Virginia Condominium Act (Va. Code § 55.1-1900 et seq.), the buyer has 3 calendar days to rescind after receiving the resale certificate. Virginia follows the general rule that the day of receipt (Friday) is not counted as Day 1; instead, Saturday is Day 1, Sunday is Day 2, and Monday is Day 3. Therefore, Thomas's rescission on Monday morning is within the 3-day window and is timely.
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