*****
Chapter 423, Wis. Stats., governs consumer approval transactions, which require notice and three days after such notice within which a consumer may cancel a “consumer approval transaction.” “Consumer Approval Transaction” is defined at sec. 423.201, Stats., as “a consumer transaction . . . 1) which is initiated by face-to-face solicitation away from a regular place of business of the merchant or by mail or telephone solicitation directed to the particular customer and 2) which is consummated or in which the customer’s offer to contract or other writing evidencing the transaction is received by the merchant away from a regular place of business and involves the extension of credit or is a cash transaction in which the amount the customer pays exceeds $25.”
*****
It is the position of this department that a transaction is consummated when a contractual relationship is created between a merchant and a consumer (see DFI-Bkg 80.311, Wis. Adm. Code,…
*****
DFI: Wisconsin Consumer Act – Three-Day Right to Cancel – When is a Transaction ‘Consummated’? (6/30/1998) Interpretive Opinions Issued by DFI
Written by
in