Contract Cancellation Option Agreement California

(8) At the end of the contract termination option agreement, a statement that may be signed by the buyer to indicate the buyer`s choice to exercise the right of withdrawal in accordance with the terms of the contract termination option agreement as well as the last date and time at which the withdrawal option may be exercised, followed by a signature line from the buyer.  Some form of declaration is not required, but the following statement is sufficient: “By signing below, I decide to exercise my right to cancel the purchase of the vehicle described in this contract.” Delivery by buyer of the withdrawal contract to buyer with buyer`s signature after such declaration constitutes sufficient written notice that exercises the right to cancel the purchase in accordance with subsection (6).  The merchant shall make available to the buyer the declaration required in this paragraph in duplicate so that the buyer can return the signed declaration of withdrawal and keep a copy of the withdrawal contract.  This subdivision does not remove the disclosure requirement imposed by another Act. (a) 1. A dealer may not retail a used vehicle within the meaning of section 665 and subject to authorization under this Code to a natural person for personal, family or household use, without offering the buyer an option agreement to terminate the contract allowing the buyer to return the vehicle without justification. . . .