Texas Business & Commerce Code - Section 41.301. Prohibited Acts
Legal Research Home >
Texas Lawyer > Business & Commerce Code > Texas Business & Commerce Code - Section 41.301. Prohibited Acts
§ 41.301. PROHIBITED ACTS. A seller may not:
(1) employ a representation, device, scheme, or
artifice to deceive a purchaser;
(2) make an untrue statement of a material fact or omit
to state a material fact in connection with the documents and
information required to be furnished to the secretary of state or
purchaser;
(3) represent that the business opportunity provides
or will provide income or earning potential unless the seller:
(A) has documented data to substantiate the
claims of income or earning potential; and
(B) discloses the data to the purchaser
when the representation is made; or
(4) make a claim or representation in advertising or
promotional material or in an oral sales presentation,
solicitation, or discussion between the seller and the purchaser
that is inconsistent with the information required to be disclosed
by this chapter.
Added by Acts 1997, 75th Leg., ch. 1008, § 5, eff. Sept. 1, 1997.
Section: 41.162 41.163 41.201 41.202 41.203 41.251 41.252 41.301 41.302 41.303 42.001 42.002 42.003 42.004 42.005
Last modified: August 10, 2007
|
