My company rented a kiosk in a mall in Arizona. We had problems with local compentation and told the mall we had to leave. We told them to keep the rent ( $1,500.00 ) but we wanted our $1,000.00 deposit back. They said no and we are going to fine you a $100.00 per hour for every hour you are not here, What is the law on this? Is there any other way to get out of this contract?

What does the contract say? The 3 day right of recission applies to real estate loans but some states apply it to other contracts.

Quote:

---

Originally Posted by mertdog

My company rented a kiosk in a mall in Arizona. We had problems with local compentation and told the mall we had to leave. We told them to keep the rent ( $1,500.00 ) but we wanted our $1,000.00 deposit back. They said no and we are going to fine you a $100.00 per hour for every hour you are not here, What is the law on this? Is there any other way to get out of this contract?

---

Do you have a contract or a lease for the space? What are the terms?

Actually, the three day, or 24 hour, or 48 hour clauses you speak of refer to contracts that are signed somewhere other than the place of business of the person or business holding the contract.

For instance, if a sales person comes to your home and sells you something, you would have a period to resend the contract. If you went to the place of business, and signed the same contract, it would be binding the moment you sign it.

As JudyKayTee has indicated, it will all depend on what the contract terms state regarding early termination.