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Current as of January 01, 2024 | Updated by Findlaw Staff
In selling, leasing, or offering to sell or lease a seller-assisted marketing plan in this state, sellers of such plans shall not represent that the seller-assisted marketing plan provides income or earning potential of any kind unless the seller has data to substantiate the claims of income or earning potential and discloses this data to the purchaser at the time the claim is made, if made in person, or if made through written or telephonic communication, at the first in-person communication thereafter and, when disclosed, the data is left with the purchaser. A mathematical computation of the number of sales, multiplied by the amount of profit per sale to reach a projected income figure is not sufficient data to substantiate an income or earning potential claim. The data left by the seller must at least disclose:
(1) The length of time the seller has been selling the particular seller-assisted marketing plan being offered;
(2) The number and percentage such number represents of the total number of purchasers who form the basis for the income or earning potential representation; and
(3) The number of purchasers known to the seller to have made at least the same sales, income, or profits as those represented.
Cite this article: FindLaw.com - Nebraska Revised Statutes Chapter 59. Monopolies and Unlawful Restraints Of Trade § 59-1729. Marketing plan; earning potential claim; substantiated by data - last updated January 01, 2024 | https://codes.findlaw.com/ne/chapter-59-monopolies-and-unlawful-restraint-of-trade/ne-rev-st-sect-59-1729/
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.
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