2016 New York Laws
PEP - Personal Property
Article 10-B - (Personal Property) TELEPHONE SALES PROTECTION ACT
442 - Buyer's or other obligor's right to cancel.

  442.  Buyer's or other obligor's right to cancel. 1. In addition to
  any other right otherwise to revoke an offer, the buyer or other  person
  obligated  for  any  part of the purchase price may cancel the telephone
  sale until midnight of the third business day after the day on which the
  buyer has received written notice from the seller notifying the buyer of
  his right to cancel the telephone sale.
2. Cancellation occurs when written notice of cancellation is given to
  the seller.
3. Notice of cancellation shall be deemed given when  deposited  in  a
  mailbox properly addressed and postage prepaid.
4.  Notice of cancellation shall be deemed received on midnight of the
  fifth day after it is deemed given.
5. Notice of cancellation need not take the form prescribed and  shall
  be  sufficient  if  it  indicates  the  intention of the buyer not to be
  bound.