While it is true that a timeshare contract is a binding legal
document, it is often mistakenly thought that such a contract cannot only be
cancelled. In fact, most timeshare companies maintain that their
contracts are non – cancellable. This misconception is continued by
timeshare companies and user groups that are funded, maintained and controlled
by the timeshare industry.
The truth of the matter is, that under the law, contracts are
cancellable for a variety of reasons, including fraud and mistake. Moreover, a
person who is burdened by the obligations of a contract may “terminate” it and
no longer be bound by the contract for reasons other than breach. Following are
few ways that might help you:
1. occurs when either party
puts an end to the contract for breach by the other and its effect is the same
as that of ‘termination’ except that the canceling party also retains any
remedy for breach of the whole contract or any unperformed balance.”
2. occurs when either party,
pursuant to a power created by agreement or by law, puts an end to the contract
otherwise than for its breach. Since
it is the law of the land, that a breach of contract by a party to the contract
may result in the other party being released from their obligations under the
contract, the notion that one is forever bound by a timeshare contract is
erroneous as a matter of law.
3. The purpose of this article is to provide a ray of hope to those
timeshare owners who are no longer interested in being tied to their timeshare
and its lifetime of financial obligations. What is true is that most timeshare exit companies will not
willingly take back their timeshare.
As will be seen below, when faced with litigation or the potential
of litigation, many timeshare companies will in fact either take back their
timeshare or simply agree to release the timeshare owner from any future
liability in connection with the timeshare contract.
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