business letter

Dear Teachers,

In the following business letter i wonder what is meant here by
(transaction, rescission, provided for under federal law, and down
payment)



NOTICE OF RESCISSION

To: __________________________________

This is to notify you that I hereby cancel the Transaction
entered into on ___________________ between_______________
and myself.

This notice is being mailed to you on __________________,
which falls within the three day right of rescission period
provided for under Federal Law.

I am requesting that you return my down payment immediately.

________________________________
(Signature)

[Tdol]

transaction = the business being done
recission = cancelling the contract
Federal Law = national rather than state law