5. The biggest misconception of consumer protection rights may be the assumption by many customers that they have a 3 day right to cancel any written contract. In reality, the right to cancel is limited to less than 10 types of contracts. Under federal law, a right to cancel exists for most types of door to door sales, for some types of telephone sales, and for some types of second mortgage or home equity loans. Under Ohio law, a right to cancel exists for some types of prepaid contracts (health spas, dance studios, dating services), home solicitation sales, business opportunity plans, sales for hearing aids, and contracts for credit repair services. Each of these laws have exemptions and detailed requirements, so all businesses who sell to consumers, should consult with a lawyer, with specialized knowledge of consumer law to assure compliance with the law. After reviewing the FTC Cooling Off Rule, http://www.consumer.ftc.gov/articles/O176- protections-home-purchases-cooling-rule, explain whether a small bakery business, specializing in cakes, would have to provide a three day right to cancel if they set up a booth as a bridal show at a local convention center, and signed up couples for providing their wedding cake. Be sure to discuss what type of businesses and transactions must comply with the FTC Cooling Off Rule, and whether or not this cake business would have to comply. Also discuss the purpose behind the law- why consumers need extra protection for these types of transactions. 
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