Code of Virginia § 59.1-267. Contracts required to be in writing; contents.
142 words·~1 min read·
/va/title-59-1/chapter-21/59-1-267·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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.
1979, c. 523.