Arizona Laws 44-1733. Sale or contract for sale of interest in pyramid promotional scheme voidable
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Any purchaser in a pyramid promotional scheme may, notwithstanding any agreement to the contrary, declare the related sale or contract for sale void, and he may bring an action in a court of competent jurisdiction to recover the consideration he paid to participate in the scheme. In such action the court shall, in addition to any judgment awarded to the plaintiff, require the defendant to pay interest, reasonable attorneys’ fees and the costs of the action, less any money paid to the plaintiff as profit in the transaction.
Terms Used In Arizona Laws 44-1733
- Action: includes any matter or proceeding in a court, civil or criminal. See Arizona Laws 1-215
- Consideration: means the payment of cash or the purchase of goods, services or intangible property but does not include:
(a) The purchase of goods or services furnished at cost to be used in making sales and not for resale. See Arizona Laws 44-1731
- Contract: A legal written agreement that becomes binding when signed.
- Defendant: In a civil suit, the person complained against; in a criminal case, the person accused of the crime.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Plaintiff: The person who files the complaint in a civil lawsuit.
- Purchaser: means a person who purchases any cat or dog without intent to resell. See Arizona Laws 44-1799
- Pyramid promotional scheme: means any plan or operation by which a participant gives consideration for the opportunity to receive compensation which is derived primarily from any person's introduction of other persons into participation in the plan or operation rather than from the sale of goods, services or intangible property by the participant or other persons introduced into the plan or operation. See Arizona Laws 44-1731