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Mandated DisclosuresBuyer_rescission_rights_three_business_daysMEDIUM

Under the Washington Seller Disclosure Act (RCW 64.06), which of the following statements about a buyer's right to rescind after receiving Form 17 is NOT accurate?

Correct Answer

D) The rescission period is measured in calendar days, including weekends and legal holidays.

Option D is NOT accurate. Under RCW 64.06.013, the three-day rescission period is measured in business days, not calendar days. Weekends and legal holidays are excluded from the count, which gives buyers more time than a calendar-day calculation would provide. Stating that the period includes weekends and holidays is factually incorrect.

Answer Options
A
The buyer has three business days from receipt of the completed Form 17 to exercise the right of rescission.
B
The rescission right applies even if the buyer signed the purchase and sale agreement before receiving Form 17.
C
The buyer may rescind the agreement without providing a specific reason during the three-business-day period.
D
The rescission period is measured in calendar days, including weekends and legal holidays.

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Why the Other Options Are Wrong

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Related Topics & Key Terms

Key Terms:

seller_disclosureform_17rescission_rightsbusiness_daysreverse_questionrcw_64_06
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