Commercial Law – General Regulatory Provisions

Lay-Away Sales

SECTION 6-32-3

§ 6-32-3. Right to cancel – Method – Exception for special-order merchandise.

(a) In addition to any right otherwise to revoke an offer, the buyer may cancel a lay-away plan sale by written notice of cancellation to the seller at the address specified for notice of cancellation provided by the seller not later than midnight ten (10) days following the buyer's signing the agreement, excluding Sunday and any holiday on which regular mail deliveries are not made. After the ten (10) days the seller may retain no more than ten percent (10%) of the total payments made. The notice of cancellation shall be by personal delivery of registered or certified mail.

(b) This right to cancel a lay-away plan sale shall not apply to special order merchandise, that, for the purposes of this section, means:

(1) Merchandise that is to be custom made and the seller has made either a commitment for its procurement or a substantial beginning of its production; or

(2) Merchandise that substantially differs from the merchandise that the seller ordinarily offers for sale.

History of Section.
(P.L. 1976, ch. 291, § 2; P.L. 1979, ch. 163, § 1; P.L. 2014, ch. 528, § 24.)