Public-domain · open source
OpenJurist

Mo. Rev. Stat. § 407.715

Duties of seller after cancellation

Known as the Credit User Protection Law

The act spans §§ 407–407 (316 sections).

Effective: 28 Aug 1973; (L. 1973 H.B. 61 & 367 § 4)

1. Except as provided in this section, within ten days after a home solicitation sale has been cancelled the seller must tender to the buyer any payments made by the buyer and any note or other evidence of indebtedness with the word "cancelled" stamped conspicuously on the face.

2. If the down payment includes goods traded in, the goods must be tendered in substantially as good condition as when received by the seller. If the seller fails to tender the goods as provided by this section, the buyer may elect to recover an amount equal to the trade-in allowance stated in the agreement.

3. Until the seller has complied with the obligations imposed by this section the buyer may retain possession of goods delivered to him by the seller and has a lien on the goods in his possession or control for any recovery to which he is entitled.

Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.