New Hampshire § 358-S-3 - Section 358-S:3 Contract Requirements; Disclosure of Cancellation Rights.

§ 358-S-3. Section 358-S:3 Contract Requirements; Disclosure of Cancellation Rights.

I. A fully completed copy of each contract shall be delivered to the buyer at the time the contract is signed. Every contract shall constitute the entire agreement between the seller and the buyer, shall be in writing, shall be signed by the buyer, and shall designate the date on which the buyer signed the contract. II. Each contract shall state in at least 10 point boldface type the following: (a) "NOTICE TO BUYER: DO NOT SIGN THIS CONTRACT UNTIL YOU HAVE READ ALL OF IT. ALSO, DO NOT SIGN THIS CONTRACT IF IT CONTAINS ANY BLANK SPACES." (b) "STATE LAW REQUIRES THAT THIS MARTIAL ARTS SCHOOL REGISTER WITH THE BUREAU OF CONSUMER PROTECTION AND ANTITRUST OF THE DEPARTMENT OF JUSTICE AND MAY REQUIRE THAT THIS MARTIAL ARTS SCHOOL POST A BOND TO PROTECT CUSTOMERS WHO PAY IN ADVANCE FOR MEMBERSHIP OR SERVICES IN THE EVENT THIS MARTIAL ARTS SCHOOL CLOSES. YOU SHOULD ASK TO SEE EVIDENCE THAT THIS MARTIAL ARTS SCHOOL HAS EITHER POSTED A BOND IN COMPLIANCE WITH THE LAW OR HAS BEEN EXEMPTED FROM THIS REQUIREMENT BY THE ATTORNEY GENERAL BEFORE YOU SIGN THIS CONTRACT. IF THIS MARTIAL ARTS SCHOOL HAS NOT POSTED SUCH A BOND, AND YOU PAY THIS MARTIAL ARTS SCHOOL FOR MORE THAN ONE MONTH'S MEMBERSHIP OR SERVICES IN ADVANCE, THEN YOU ARE PAYING FOR FUTURE SERVICES, AND YOU MAY BE RISKING THE LOSS OF YOUR MONEY IN THE EVENT THAT THE MARTIAL ARTS SCHOOL CEASES TO CONDUCT BUSINESS." III. Every buyer shall be entitled to cancel his or her contract within 3 business days by notifying the martial arts school in writing by midnight of the third business day following the date of the purchase of the membership contract. Written notification is deemed given if mailed or delivered by midnight of the third business day. All money collected pursuant to the contract shall be refunded to the purchaser exercising the right to cancel. IV. (a) Each contract shall contain in at least 10 point boldface type a statement in substantially the following form: "YOU MAY CANCEL THIS TRANSACTION IN WRITING ANY TIME PRIOR TO MIDNIGHT OF THE THIRD BUSINESS DAY AFTER THE DATE OF THIS TRANSACTION." (b) The buyer may cancel the contract by written notice mailed to the seller, preferably by certified or registered letter, or the buyer may cancel the contract by delivering a notice in person within the cancellation period. If such notice is hand-delivered, the buyer shall be entitled to a receipt. V. Each contract shall further contain a statement notifying the buyer of each of his or her rights under RSA 358-S:6. VI. Each martial arts school shall provide the department of justice with a copy of its membership contract.