Cancelling a Transaction

1. In some instances, the seller or buyer is allowed to cancel the transaction. Some of these instances include:

1. The buyer or the seller has been cheated.
2. If at the time of the transaction, it had been specified that for a specific period, either parties, or even one of the two parties is allowed to cancel the transaction. For example, at the time of buying and selling it is stated that if either person has some sort of doubt (about the transaction), then he has three days (once the deal is made) to break the contract.
3. The seller and the buyer have not separated from each other. For example, a person purchases something from a store, then before he leaves the store, he is allowed to cancel the transaction.
4. The object that had been bought was defective, and after the transaction, it was noticed.
5. The seller explained the item to the person buying the product, who himself did not see the product’s specialties, and later it was noticed that it was not as the seller had explained it to be. For example, one was told that a notebook has 200 pages, and later it was found to have less than this amount.

2. If after a transaction, one notices a defect in the product and right away does not cancel the transaction, then later on, one does not have the right to break the transaction.