Arizona Laws 44-1276.02. Business opportunity contracts in writing; required information
A. A business opportunity contract or agreement shall be in writing and shall be given to the consumer with the disclosure document required under Section 44-1276.01.
Terms Used In Arizona Laws 44-1276.02
- Consumer: means a person who is solicited by a seller or solicitor. See Arizona Laws 44-1271
- Contract: A legal written agreement that becomes binding when signed.
- Goods: means any merchandise, equipment, products, supplies or materials. See Arizona Laws 44-1271
- Principal: means an owner or an officer of a corporation or limited liability company, a general partner of a partnership, a sole proprietor of a sole proprietorship, a partner of a limited liability partnership, a trustee of a trust and any other individual who controls, manages or supervises a telephone sales operation. See Arizona Laws 44-1271
- Seller: means a person who, directly or through a solicitor, does any of the following:
(a) Initiates telephone calls to provide or arrange to provide merchandise to consumers in exchange for payment. See Arizona Laws 44-1271
- Service of process: The service of writs or summonses to the appropriate party.
- Writing: includes printing. See Arizona Laws 1-215
B. A business opportunity contract or agreement shall include the following:
1. The terms and conditions of payment.
2. A full and detailed description of the acts or services that the seller undertakes to perform for the consumer.
3. The seller’s principal business address and the name and address of its agent in this state that is authorized to receive service of process.
4. The approximate delivery date of any goods that the seller is to deliver to the consumer and an approximate timetable for performance of services necessary to begin substantial operation of the business.