phone solicitation

I received a call at work asking me to update our business address, etc. for a web-site posting which I did (dummy me!). Several minutes later I received a second call stating that the cost was $279 and was I authorized to okay this to which I replied yes (apparently I am not authorized to okay this!!). When we received their invoice I immediately phoned to cancel but was told it was a 2 year contract and we could not get out of it.
Question: I called and cancelled 7 days after their call. I thought the consumer had 7 days to cancel according to British Columbia law. Is this correct?
Question: Their invoice states: "This is a final sale after 48 hours prior to the date of the order." How can it be a final sale prior to the date of the order?
Question: Is a verbal agreement legal and binding in British Columbia law?

You can say you did not understand and dispute it.

They would likely lose if they went to small claims, unless they had to do a great deal of work after you said yes initially.