i own a hair salon and have signed an advertising contract with a company. un fortunately i did not read the contract before i signed it, and now i have read it i realise i have been misled by the company. they have told me i cannot cancel the agreement, but can you tell me if there should be a cooling off period in which i can cancel?
No cooling off period applies. You are a business and will continue to be hounded by advertising companies, utility supply companies and the like because "your word is your bond".
Contract law makes it very clear that you should not be careless when signing contracts as you have no way out. The fact that you didnt even read the contract makes you careless, and you are stuck with it. Pay the money and learn the lesson. We have all done it, but most of us will only do it once.
We are a furniture retailer, and have made the same "mistake" as you - i.e. trusting the word of a DSM Marketing Salesperson. We are hooked as well - you are not alone!