A home improvement company was negotiating with a homeowner to add two rooms to a home. The company agreed to take a second mortgage as long as the homeowner also included the rest of the property in the loan. The company and the homeowner agreed to a price, and the company provided the necessary disclosure form on Monday and the homeowner signed the agreement at noon the following day. Assuming that the week had five business days, until what time could the homeowner rescind the loan?

Question

Social Studies

Emmalee Travis

29 September, 12:51

A home improvement company was negotiating with a homeowner to add two rooms to a home. The company agreed to take a second mortgage as long as the homeowner also included the rest of the property in the loan. The company and the homeowner agreed to a price, and the company provided the necessary disclosure form on Monday and the homeowner signed the agreement at noon the following day. Assuming that the week had five business days, until what time could the homeowner rescind the loan?

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Answers (1)

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Jake Farley · Answer 1

Answer: Friday, midnight.

Explanation:

Giving the detailed situation among these lines above, if the company and the homeowner signed the agreement at tuesday's noon, and then assuming that the week had five business days, it would be safe to say that the homeowner had until friday's midnight to rescind the loan.