P-40.1 - Consumer Protection Act

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SCHEDULE 7.4
(CONSUMER PROTECTION ACT, S. 150.30)
NOTICE OF RIGHT OF PREEMPTION
Date: ..............
(date on which notice is sent or remitted)
..............
(name of merchant)
.............. ..............
(telephone number of merchant)
..............
(address of merchant)
hereinafter called the merchant, notifies
..............
(name of consumer)
..............
..............
(address of consumer)
hereinafter called the consumer,
1 - that the merchant has received from ..............
(name and address)
(hereinafter called the prospective acquirer) an offer to purchase the goods which are the object of the contract of lease with guaranteed residual value
(No. ..............) made between the consumer
(the number of the contract, if indicated)
and the merchant at ..............
(place where the contract was made)
on .............. and that this offer to acquire is in the amount of $..............,
(date when the contract was made) (amount)
and that this amount is less than the residual value indicated in the contract, namely $..............;
(amount)
2 - that the consumer may, within 5 days after receipt of this notice,
(a) acquire the goods by paying in cash a price equal to that offered by the prospective acquirer; or
(b) present a third person who agrees to pay in cash for the goods a price equal to or greater than that offered by the prospective acquirer.
In the latter case, if the merchant does not agree to sell the goods to the third person presented by the consumer, the consumer is released from his obligation to guarantee the residual value.
If the consumer fails to acquire the goods or to present a third person within 5 days after receipt of this notice, the merchant will sell the goods to the prospective acquirer at the price offered by him and indicated in paragraph 1.
The consumer is advised to examine his contract and, if further information is necessary, to contact the Office de la protection du consommateur.
..............
(name of the merchant)
..............
(signature of the merchant)
1991, c. 24, s. 19.