(1) A resident or prospective resident may, within the period (the
"cooling-off period" ) of 7 business days after entering into a
village contract, serve a written notice on--
(2) For this purpose, a contract
is taken to have been entered into at midnight on the day on which a copy of
the contract signed by the resident is given to the other party to the
contract. The cooling-off period ends at midnight 7 business days after that
day.
(3) A contract must not be completed until after the cooling-off period
has expired.