sec.166Cooling-off period

### sec.166 Cooling-off period The cooling-off period , for a relevant contract, is a period of 5 business days— starting on— the day the buyer receives a copy of the relevant contract signed by both parties from the seller; or if the buyer receives a copy of the relevant contract signed by both parties from the seller on a day other than a business day, the first business day after the day the buyer receives the copy from the seller; and ending at 5p.m. on the fifth business day. Assume the buyer receives a copy of the relevant contract from the seller at any time on a Monday. Assume also that the cooling-off period is not affected by a day that is not a business day. The cooling-off period ends at 5p.m. on the following Friday. For subsection (1) , if the buyer signs the relevant contract after the seller signed it, the buyer is taken to have received a copy of the relevant contract from the seller when the buyer has both signed the relevant contract and communicated the buyer’s acceptance of the seller’s offer to the seller. (sec.166-ssec.1) The cooling-off period , for a relevant contract, is a period of 5 business days— starting on— the day the buyer receives a copy of the relevant contract signed by both parties from the seller; or if the buyer receives a copy of the relevant contract signed by both parties from the seller on a day other than a business day, the first business day after the day the buyer receives the copy from the seller; and ending at 5p.m. on the fifth business day. Assume the buyer receives a copy of the relevant contract from the seller at any time on a Monday. Assume also that the cooling-off period is not affected by a day that is not a business day. The cooling-off period ends at 5p.m. on the following Friday. (sec.166-ssec.2) For subsection (1) , if the buyer signs the relevant contract after the seller signed it, the buyer is taken to have received a copy of the relevant contract from the seller when the buyer has both signed the relevant contract and communicated the buyer’s acceptance of the seller’s offer to the seller. - (a) starting on— (i) the day the buyer receives a copy of the relevant contract signed by both parties from the seller; or (ii) if the buyer receives a copy of the relevant contract signed by both parties from the seller on a day other than a business day, the first business day after the day the buyer receives the copy from the seller; and - (i) the day the buyer receives a copy of the relevant contract signed by both parties from the seller; or - (ii) if the buyer receives a copy of the relevant contract signed by both parties from the seller on a day other than a business day, the first business day after the day the buyer receives the copy from the seller; and - (b) ending at 5p.m. on the fifth business day. - (i) the day the buyer receives a copy of the relevant contract signed by both parties from the seller; or - (ii) if the buyer receives a copy of the relevant contract signed by both parties from the seller on a day other than a business day, the first business day after the day the buyer receives the copy from the seller; and