54.12. The contract is cancelled by operation of law as of the sending of the cancellation notice.
The cancellation of the contract entails the cancellation of any accessory contract and of any warranty or security given to guarantee the amount payable under the contract.
A contract of credit entered into between the consumer and a third-party merchant under or in relation to a distance contract forms a whole with that contract and, as such, is also cancelled by operation of law if it results from an offer, representation or other action by the merchant who is party to the distance contract.
2006, c. 56, s. 5; 2018, c. 14, s. 141.