Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2025 | Updated by Findlaw Staff
(a) In addition to the other requirements of this chapter, a person may not contract to sell a business opportunity unless the contract is in writing and the seller gives a copy of the contract to the buyer when the buyer signs the contract.
(b) The department shall establish by regulation the content and format of the information that must be contained in the contract. At a minimum, the contract must contain
(1) the payment terms, including any escrow account required under AS 45.66.100;
(2) the name, address, and telephone number of the seller, the seller's agent, and each supplier of products, equipment, or supplies that the seller is to deliver to the buyer;
(3) a statement of the form of the seller's business organization;
(4) a description of services, including any training services, that the seller is to provide to the buyer;
(5) the delivery date of the product, equipment, or supplies being sold or leased;
(6) if the seller has represented that there is a buy-back agreement for the business opportunity or that payments are protected or secured, a complete description of those provisions;
(7) a statement of the buyer's right to cancel, the circumstances under which cancellation is authorized, and the procedure for cancellation and refunds; and
(8) any other terms that the department determines are necessary to protect the public interest.
Cite this article: FindLaw.com - Alaska Statutes Title 45. Trade and Commerce § 45.66.090. Written contract required - last updated January 01, 2025 | https://codes.findlaw.com/ak/title-45-trade-and-commerce/ak-st-sect-45-66-090/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)