Timeshare was exactly the same as it is now, except that word is now feared, so it's called Holiday Club instead.. New wrapper, same ***** inside!
There's one crucial difference - if it's a timeshare, under an EU Directive, there is a cooling-off period granted to the purchaser. If the timeshare contract was signed in the United Kingdom then this cooling off period will be 14 days. If the contract was signed anywhere within the EU then the cooling-off period will stand at 10 days.
A lot of timeshare companies were finding that people were cancelling the agreement, once they realised in the cold light of day how stupid they'd been. So these things were repackaged as 'holiday clubs' which are not covered by the cooling-off period because they're not offering you, say, the last two weeks in July at the Saggy Speedo del Sol Resort, but instead with a holiday club what you buy is the 'right' to have a number of weeks' holiday at a 'discount' which you book through their 'club'.
The paperwork for these things is very well drawn and designed to stop people from claiming their money back from their credit card companies under s.75 Consumer Credit Act 1974. (S.75 allows a customer to claim money back from their bank if there's been a breach of contract or misrepresentation by the seller, and if the goods cost between £100 and £30,000. It doesn't apply if you've just changed your mind and want a refund.)
To make a successful claim from your credit card company, there has to be a direct link between the company you've bought the holiday club from and the company which processed your credit card.
So, you sign a holiday club membership form, which says that the provider of the holiday club membership is DodgyClub Ltd. That's who your contract is with. But your credit card payment is taken by ShonkySales Ltd . What this means is that your bank has no direct contractual relationship with DodgyClub, and so can't give you your money back if there's a breach of contract.
The contracts are also written in very small print, and the customers are asked to initial each clause, which say things like "Nothing any salesman has said or promised forms any part of this contract."
I spend a lot of my working day looking at this type of contract, so please, please don't sign anything at all when you're on holiday, don't even go to the presentation - they drive you right out of your holiday resort to a remote villa, ply you with drink and get you to sign paperwork in the full knowledge that it's going to be almost impossible to cancel.
Sorry if this is a bit long-winded and wordy for a Sunday morning, but it's important to know how tied up you can get in these things with no hope of your money back.