Every prepaid entertainment contract shall:
(1) Be in writing, fully completed, dated and signed by all contracting parties. A copy of the contract shall be given to the buyer at the time he signs the contract;
(2) Have a duration of service that is a precisely measured period of years or any definite part of a year;
(3) Contain a full statement of the buyer's rights under G.S. 66-120;
(4) Contain, in immediate proximity to the space reserved for the signature of the buyer, in bold face type of a minimum size of 10 points, a statement of the buyer's rights under G.S. 66-121, in substantially the following form:
"You the buyer, may cancel this contract at any time prior to midnight of the third business day after the date of this contract. To cancel, you must notify the seller in writing not later than midnight of
(Date)."