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Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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A few days ago I signed a business selling contract

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A few days ago I signed a business selling contract with RTA and paid 2100+vat registration fee.
After coming back home i read it and did not like it.
The next day I sent a cancelation letter. After speaking with them on the phone they said that as is was a business contract there is no 'cooling off' period and I cannot cancel. Is this correct. They have also said they will keep the registration fee and charge me an early cancellation fee.
Please can you advise me. Thanks,
Hello my name is ***** ***** I will help you.
They are correct, there is no cooling off period for a business unless its specified in the contract. You do not get 14 days like a consumer contract.
However any fee charged must be reasonable. If it is not potentially you can claim its uinfair and claim it back.
You need to write and set out your losses and request a refund within 14 days or say you will go to Court within 14 days. You should make sure you send this signed delivery and keep a copy.
If they do not refund you then you can issue proceedings in the County Court. You can either do this online at:  or by completing form N1 and take it to your local County Court.
The Court will then issue a claim which a copy will be sent to the Defendant who will have a limited time to defend it, if not you can enter Judgment and enforce.
If the claim is for £10,000 or less it will be a small claim so you will not need legal representation. Over this value you would need representation for trial.
Can I clarify anything for you about this today please?
Customer: replied 2 years ago.
Does it make any difference if the contract was signed off premises?
None whatsoever - I am sorry.
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