§ 500-203. Mandatory contract items
Purdon's Pennsylvania Statutes and Consolidated StatutesTitle 73 P.S. Trade and Commerce
73 P.S. § 500-203
§ 500-203. Mandatory contract items
Except as provided in sections 306, 307 and 308 of this act,1 a home improvement installment contract shall contain the following:
(d.1) If any installment substantially exceeds in amount any prior installment other than the down payment, the following legend printed in ten point bold type or typewritten and underlined: This contract is not payable in installments of equal amounts. Followed, if there be but one larger installment, by: An installment of $.......... will be due on .........., or if there be more than one larger installment, by: Larger installments will be due as follows: ........... (Insert the amount or amounts of every larger installment and its due date).
(e.1) This contract, subject to liability for any liquidated damage provision thereof authorized by law, may be rescinded by the buyer not later than five P.M. on the business day following the date thereof by giving written notice of rescission to the contractor at his place of business given in this contract, but if you rescind after five P.M. on the business day following, you are still entitled to offer defenses in mitigation of damages and to pursue any rights of action or defenses that arise out of the transaction.
The items need not be stated in the sequence or order set forth above. Additional items may be included to explain the computation made in determining the amount to be paid by the buyer. The contract need not make any reference to item (c.1) if a charge for the item is not included in the contract.
Credits
1963, Aug. 14, P.L. 1082, art. II, § 203. Amended 1994, July 1, P.L. 416, No. 68, § 1, effective in 60 days.
Footnotes
73 P.S. §§ 500-306 to 500-308.
73 P.S. § 500-203, PA ST 73 P.S. § 500-203
Current through Act 10 of the 2024 Regular Session. Some statute sections may be more current, see credits for details.
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