Goods given in part-exchange
8.—(1) This regulation applies on the cancellation of a contract under regulation 4 above where the trader agreed to take goods in part-exchange (the “part-exchange goods”) and those goods have been delivered to him.
(2) Unless, before the end of the period of ten days beginning with the date of cancellation, the part-exchange goods are returned to the consumer in a condition substantially as good as when they were delivered to the trader, the consumer shall be entitled to recover from the trader a sum equal to the part-exchange allowance.
(3) During the period of ten days beginning with the date of cancellation, the consumer, if he is in possession of goods to which the cancelled contract relates, shall have a lien on them for–
(a)delivery of the part-exchange goods in a condition substantially as good as when they were delivered to the trader; or
(b)a sum equal to the part-exchange allowance;
and if the lien continues to the end of that period it shall thereafter subsist only as a lien for a sum equal to the part-exchange allowance.
(4) In this regulation the part-exchange allowance means the sum agreed as such in the cancelled contract, or if no such sum was agreed, such sum as it would have been reasonable to allow in respect of the part-exchange goods if no notice of cancellation had been served.