Reference no: EM132313501

Some laws give consumers the right to cancel certain contracts for any reason within a short period of time after entering into them. For example, consumers in the European Union can return anything purchased online for any reason or no reason at all. Consumers in California can get out of gym membership contracts by sending the gym a cancellation notice within five business days of joining. Other state statutes cover insurance, weight loss services, door-to-door sales, and home repair contracts. If these agreements meet all of the requirements for a contract, why would the law allow people to get out of them so easily? Is this good policy? Alternatively, if consumers can cancel these contracts, why not allow everyone to cancel any contract within a few days?