§ 59.1-267 Contracts required to be in writing; contents
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:
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
This law was first created in 1979. The record of its establishment is cataloged in chapter 523 of that year’s edition of “Acts of Assembly,” the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1979 “Acts” aren’t available online.
1979, c. 523.