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Texas Business & Commerce Code - Section 41.201. Form Of Business Opportunity Contract

Legal Research Home > Texas Lawyer > Business & Commerce Code > Texas Business & Commerce Code - Section 41.201. Form Of Business Opportunity Contract

§ 41.201. FORM OF BUSINESS OPPORTUNITY CONTRACT.  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 and the 
name and address of the seller's agent in this state authorized to 
receive service of process;
		(4)  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 locations owned or managed by 
persons other than the purchaser;  and
		(5)  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. 

Added by Acts 1997, 75th Leg., ch. 1008, § 5, eff. Sept. 1, 1997.          

Last modified: August 10, 2007