EstatePass
Mandated DisclosuresBuyer_rescission_rights_three_business_daysEASY

Maria receives the completed Seller Disclosure Statement (Form 17) from the seller on a Friday afternoon. Assuming Saturday and Sunday are not business days, what is the last day Maria can exercise her statutory right to rescind the purchase and sale agreement under Washington law?

Correct Answer

C) The following Wednesday

Under RCW 64.06.013, Maria has three business days from receipt of Form 17 to rescind. Receiving the form on Friday, the three business days count as Monday (Day 1), Tuesday (Day 2), and Wednesday (Day 3). Therefore, Wednesday is the last day she may rescind.

Answer Options
A
The following Monday
B
The following Tuesday
C
The following Wednesday
D
The following Thursday

Why This Is the Correct Answer

Sign up free to unlock full analysis

Why the Other Options Are Wrong

Sign up free to unlock full analysis

Deep Analysis of This Mandated Disclosures Question

Sign up free to unlock full analysis

Background Knowledge for Mandated Disclosures

Sign up free to unlock full analysis
Sign up free to unlock full analysis

Real World Application in Mandated Disclosures

Sign up free to unlock full analysis

Related Topics & Key Terms

Key Terms:

seller_disclosureform_17rescission_rightsbusiness_daystimelinercw_64_06
Was this explanation helpful?

More Mandated Disclosures Questions

People Also Study

Practice More Questions

Access 2,000+ practice questions and pass your real estate exam.

Start Practicing