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Current as of January 01, 2024 | Updated by Findlaw Staff
A business opportunity contract must be in writing and include, in 10-point type or in handwriting of an equivalent size, the following:
(1) the terms of payment, including the initial consideration, down payment, and additional payments required;
(2) a detailed description of the acts or services the seller undertakes to perform for the purchaser;
(3) the seller's principal business address;
(4) the name and address of the seller's agent in this state authorized to receive service of process;
(5) the delivery date or, if the contract provides for staggered delivery times to the purchaser, the approximate delivery date of the products, equipment, or supplies the seller is to:
(A) deliver to the purchaser's home or business address; or
(B) place at a location owned or managed by a person other than the purchaser; and
(6) a complete description of the nature of the buy-back or security arrangement if the seller has represented orally or in writing when selling, leasing, soliciting, or offering a business opportunity that there is a buy-back or that the initial consideration is secured.
Cite this article: FindLaw.com - Texas Business and Commerce Code - BUS & COM § 51.201. Form of Business Opportunity Contract - last updated January 01, 2024 | https://codes.findlaw.com/tx/business-and-commerce-code/bus-com-sect-51-201/
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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