{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2025\/code-json\/59.1-267.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2025\/code-text\/59.1-267.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2025\/code-xml\/59.1-267.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2025\/code-html\/59.1-267.html"}],"law_id":74129,"edition_id":1,"section_id":74129,"structure_id":13983,"section_number":"59.1-267","catch_line":"Contracts required to be in writing; contents","history":"1979, c. 523.","full_text":"A\n\nEvery 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\n\nEvery contract for the sale of a business opportunity shall include the following:1\n\nThe terms and conditions of payment;2\n\nA full and detailed description of the acts or services that the business opportunity seller undertakes to perform for the purchaser;3\n\nThe 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\n\nA full and detailed description of any product, products, equipment or supplies the business opportunity seller is to deliver to the purchaser;5\n\nThe approximate delivery date of any product, products, equipment, or supplies the business opportunity seller is to deliver to the purchaser.","order_by":null,"text":{"0":{"id":266603,"text":"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.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":266604,"text":"Every contract for the sale of a business opportunity shall include the following:","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"B1"},"2":{"id":266605,"text":"The terms and conditions of payment;","type":"section","prefixes":["B","1"],"prefix":"1","entire_prefix":"B1","prefix_anchor":"B1","level":2,"prior_prefix":"B","next_prefix":"B2"},"3":{"id":266606,"text":"A full and detailed description of the acts or services that the business opportunity seller undertakes to perform for the purchaser;","type":"section","prefixes":["B","2"],"prefix":"2","entire_prefix":"B2","prefix_anchor":"B2","level":2,"prior_prefix":"B1","next_prefix":"B3"},"4":{"id":266607,"text":"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;","type":"section","prefixes":["B","3"],"prefix":"3","entire_prefix":"B3","prefix_anchor":"B3","level":2,"prior_prefix":"B2","next_prefix":"B4"},"5":{"id":266608,"text":"A full and detailed description of any product, products, equipment or supplies the business opportunity seller is to deliver to the purchaser;","type":"section","prefixes":["B","4"],"prefix":"4","entire_prefix":"B4","prefix_anchor":"B4","level":2,"prior_prefix":"B3","next_prefix":"B5"},"6":{"id":266609,"text":"The approximate delivery date of any product, products, equipment, or supplies the business opportunity seller is to deliver to the purchaser.","type":"section","prefixes":["B","5"],"prefix":"5","entire_prefix":"B5","prefix_anchor":"B5","level":2,"prior_prefix":"B4"}},"ancestry":[{"id":13983,"edition_id":1,"name":"Business Opportunity Sales Act","identifier":"21","label":"chapter","depth":2,"order_by":1,"parent_id":12809,"metadata":{},"date_created":"2026-06-26 03:46:30","date_modified":"2026-06-26 03:46:30","permalink":{"id":260279,"object_type":"structure","relational_id":13983,"identifier":"21","token":"59.1\/21","url":"\/59.1\/21\/","edition_id":1,"permalink":0,"preferred":1}},{"id":12809,"edition_id":1,"name":"Trade and Commerce","identifier":"59.1","label":"title","depth":1,"order_by":1,"parent_id":null,"metadata":{},"date_created":"2026-06-26 03:43:54","date_modified":"2026-06-26 03:43:54","permalink":{"id":259521,"object_type":"structure","relational_id":12809,"identifier":"59.1","token":"59.1","url":"\/59.1\/","edition_id":1,"permalink":0,"preferred":1}}],"structure_contents":[{"id":78004,"structure_id":13983,"section_number":"59.1-262","catch_line":"Short title","url":"\/59.1-262\/","token":"59.1\/21\/59.1-262","metadata":false},{"id":59290,"structure_id":13983,"section_number":"59.1-263","catch_line":"Definitions","url":"\/59.1-263\/","token":"59.1\/21\/59.1-263","metadata":false},{"id":72650,"structure_id":13983,"section_number":"59.1-264","catch_line":"Written disclosure statement required","url":"\/59.1-264\/","token":"59.1\/21\/59.1-264","metadata":false},{"id":61483,"structure_id":13983,"section_number":"59.1-265","catch_line":"Seller required to obtain bond or establish escrow account; action for damages against bond or account; limitation on liability of surety or escrow agent","url":"\/59.1-265\/","token":"59.1\/21\/59.1-265","metadata":false},{"id":55055,"structure_id":13983,"section_number":"59.1-266","catch_line":"Prohibited acts","url":"\/59.1-266\/","token":"59.1\/21\/59.1-266","metadata":false},{"id":74129,"structure_id":13983,"section_number":"59.1-267","catch_line":"Contracts required to be in writing; contents","url":"\/59.1-267\/","token":"59.1\/21\/59.1-267","metadata":false},{"id":58503,"structure_id":13983,"section_number":"59.1-268","catch_line":"Purchaser's remedies","url":"\/59.1-268\/","token":"59.1\/21\/59.1-268","metadata":false},{"id":69026,"structure_id":13983,"section_number":"59.1-269","catch_line":"Penalty; limitation","url":"\/59.1-269\/","token":"59.1\/21\/59.1-269","metadata":false}],"previous_section":{"id":55055,"structure_id":13983,"section_number":"59.1-266","catch_line":"Prohibited acts","url":"\/59.1-266\/","token":"59.1\/21\/59.1-266","metadata":false},"next_section":{"id":58503,"structure_id":13983,"section_number":"59.1-268","catch_line":"Purchaser's remedies","url":"\/59.1-268\/","token":"59.1\/21\/59.1-268","metadata":false},"metadata":false,"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/59.1-267\/","history_text":"

This law was first created in 1979. The record of its establishment is cataloged in chapter 523 of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year. Unfortunately, the 1979 \u201cActs\u201d aren\u2019t available online.<\/p>","references":[{"id":58503,"section_number":"59.1-268","catch_line":"Purchaser's remedies","order_by":null,"url":"\/59.1-268\/"}],"refers_to":false,"permalink":{"id":260301,"object_type":"law","relational_id":74129,"identifier":"59.1-267","token":"59.1\/21\/59.1-267","url":"\/59.1-267\/","edition_id":1,"permalink":0,"preferred":1},"url":"\/59.1-267\/","token":"59.1\/21\/59.1-267","dublin_core":{"Title":"Contracts required to be in writing; contents","Type":"Text","Format":"text\/html","Identifier":"\u00a7 59.1-267","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> Every business opportunity sales contract<\/span> shall be in writing and a copy shall be given to the purchaser at the time he signs the contract<\/span>. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Every contract<\/span> for the sale of a business opportunity shall include the following: <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

1.<\/span> The terms and conditions of payment; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

2.<\/span> A full and detailed description of the acts or services that the business opportunity seller undertakes to perform for the purchaser; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

3.<\/span> 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<\/span>; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

4.<\/span> A full and detailed description of any product, products, equipment or supplies the business opportunity seller is to deliver to the purchaser; <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

5.<\/span> The approximate delivery date of any product, products, equipment, or supplies the business opportunity seller is to deliver to the purchaser. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nCONTRACTS REQUIRED TO BE IN WRITING; CONTENTS (\u00a7 59.1-267)\n\nA. Every business opportunity sales contract shall be in writing and a copy\nshall be given to the purchaser at the time he signs the contract.\n\nB. Every contract for the sale of a business opportunity shall include the\nfollowing:\n\n 1. The terms and conditions of payment;\n\n 2. A full and detailed description of the acts or services that the business\n opportunity seller undertakes to perform for the purchaser;\n\n 3. The seller’s principal business address and the name and address of\n its agent in the Commonwealth of Virginia authorized to receive service of\n process;\n\n 4. A full and detailed description of any product, products, equipment or\n supplies the business opportunity seller is to deliver to the purchaser;\n\n 5. The approximate delivery date of any product, products, equipment, or\n supplies the business opportunity seller is to deliver to the purchaser.\n\nHISTORY: 1979, c. 523.","edition":{"id":1,"name":"2025","slug":"2025","date_created":"2026-06-21 22:39:22","date_modified":"2026-06-21 22:39:22","current":1,"order_by":1,"last_import":null}}