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On Wednesday, we wrote about the new right to a discount under unfair trading laws that will come into force on 1 October (eg in only 19 days from now).
As you may recall, the Consumer Protection (Amendment) Regulations 2014 insert three new remedies into the Consumer Protection from Unfair Trading Regulations 2008.
Under the Regulations, if a business has misled a customer or sold goods or services to them in an aggressive manner, they may be entitled, depending on the circumstances, to rely on some or all of the following significant new remedies:
Today, we will look at the second of these remedies: the right to unwind the contract.
Cue nifty graphic (and appropriate unwind icons):
So provided the conditions above are satisfied, the right to unwind applies, even if no loss has occurred.
As with the
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