§ 337-c. Right to cancel. Every contract or agreement for the sale
or lease of subdivided lands shall expressly grant to the purchaser or
lessee the absolute right to cancel the contract or agreement within
seven days following the signing of the contract or agreement, by giving
the subdivider notice of cancellation at the address listed in the
offering statement filed by the subdivider, by registered or certified
mail return receipt requested. Within ten days of receipt of such a
notice of cancellation the subdivider shall return to the purchaser or
lessee all consideration paid or delivered on account of such contract
or agreement.