59.1-267 - Contracts required to be in writing; contents. - Virginia Statutes

§ 59.1-267. Contracts required to be in writing; contents.

A. Every business opportunity sales contract shall be in writing and a copyshall be given to the purchaser at the time he signs the contract.

B. Every contract for the sale of a business opportunity shall include thefollowing:

1. The terms and conditions of payment;

2. A full and detailed description of the acts or services that the businessopportunity seller undertakes to perform for the purchaser;

3. The seller's principal business address and the name and address of itsagent in the Commonwealth of Virginia authorized to receive service ofprocess;

4. A full and detailed description of any product, products, equipment orsupplies the business opportunity seller is to deliver to the purchaser;

5. The approximate delivery date of any product, products, equipment, orsupplies the business opportunity seller is to deliver to the purchaser.

(1979, c. 523.)