On a visit to a shopping centre, a telecommunication sales person talked you into signing a new contract for a mobile phone. At that time, you did not have enough time to go through the contract terms and you requested a copy of the contract to be sent to your home by post. However, on review of the contract terms you realised that they were imbalanced and heavily in favour of the company. You called the company to cancel the contract, but company refused to do so as the cooling period of 10 days has expired.

Explain which law can be invoked to challenge the contract terms? Briefly describe the relevant law and its provisions.