CODE OF VIRGINIA

CONTRACTS REQUIRED TO BE IN WRITING; CONTENTS (§ 59.1-267)

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

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

   1.  The terms and conditions of payment;

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

   3.  The seller’s principal business address and the name and address of
   its agent in the Commonwealth of Virginia authorized to receive service of
   process;

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

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

HISTORY: 1979, c. 523.