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MAYO v. KEY FINANCIAL SERVICES, INC.

424 Mass. 862 (1997)

DAVID MAYO & others v. KEY FINANCIAL SERVICES, INC.

Supreme Judicial Court of Massachusetts, Suffolk.

May 9, 1997.

Attorney(s) appearing for the Case

W. Paul Needham for the defendant.

Edward K. O'Brien for the plaintiffs.

Present: WILKINS, C.J., O'CONNOR, GREANEY, FRIED, & MARSHALL, JJ.

WILKINS, C.J.

The Massachusetts Consumer Credit Cost Disclosure Act (G. L. c. 140D) provides that a borrower (an obligor in the language of the act) who grants a security interest (in this case a mortgage) on property used as the borrower's principal dwelling has the right to rescind the transaction. Notification of the rescission must be given within three days of either the consummation of the transaction "or the delivery...

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