If you enter in a contract, and cancel it within three days, do you still have to pay a penalltiy?

The terms of the agreement will identify whether you have a right of RESCISSION, the timing requirements and method for invoking this right, etc. If no right of rescission, then look to the agreement terms again for those concerning early termination. NOTE: The response given does not form an attorney-client relationship and it is provided solely as the opinion of the author. It is for informational purposes only under the terms and conditions. If a legal opinion or representation is desired, please seek independent legal counsel. REQUEST: Please give this answer a "thumbs up" if you find it valuable. Tom Gimer, Esq. -- helping clients in DC and MD -- 202.556.4LAW (4529) http://gimerlaw.com

I would need more information from you before being able to answer your question completely. Certain contracts can be rescinded within three days under Michigan law. It is not clear from your facts whether your contract would fall into that category or not. The Michigan Attorney General has a section of his website devoted to this issue. Some of that information may help you decide whether or not you can cancel the contract. If you still have questions or concerns regarding this issue, please contact me and I will be happy to assist you. That site can be found at: http://www.michigan.gov/ag/0,1607,7-164-34739_20942-44718--,00.html Best of luck to you! James Frederick