Section 14-118 - Contracts for the sale of business opportunities. - Maryland Statutes

§ 14-118. Contracts for the sale of business opportunities.
 

(a)  Form.- Each contract for the sale of a business opportunity shall be in writing. 

(b)  Contents.- The contract shall include: 

(1) the terms and conditions of payment; 

(2) a full and detailed description of the acts or services that the seller agrees to perform for the buyer; 

(3) the address of the seller's principal office; 

(4) the name and address of the seller's resident agent; and 

(5) the approximate date that the seller will deliver to the buyer any products, equipment, or supplies. 

(c)  Copy to buyer.- When a buyer signs a contract for the sale of a business opportunity, the seller shall give the buyer a copy of the contract. 
 

[An. Code 1957, art. 56, § 411; 1992, ch. 4, § 2; ch. 26, § 4; 1996, ch. 517.]