Nebraska Statutes 59-1742. Marketing plan contract; contents; requirements
Every seller-assisted marketing plan contract shall set forth in at least ten-point type or equivalent size if handwritten, the following:
Terms Used In Nebraska Statutes 59-1742
- Company: shall include any corporation, partnership, limited liability company, joint-stock company, joint venture, or association. See Nebraska Statutes 49-801
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Equipment: shall mean machines, all electrical devices, video or audio devices, molds, display racks, vending machines, coin-operated game machines, machines which dispense products, and display units of all kinds. See Nebraska Statutes 59-1707
- Initial payment: shall mean the total amount a purchaser is obligated to pay under the terms of the seller-assisted marketing plan contract prior to or at the time of delivery of the equipment, supplies, products, or services or within six months of the purchaser commencing operation of the seller-assisted marketing plan. See Nebraska Statutes 59-1712
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Purchaser: shall mean a person who is solicited to become obligated or does become obligated on a seller-assisted marketing plan contract. See Nebraska Statutes 59-1706
- Seller: shall mean a person who sells or leases or offers to sell or lease a seller-assisted marketing plan and:
(1) Has sold, leased, represents, or implies that the seller has sold or leased, whether in Nebraska or elsewhere, at least five seller-assisted marketing plans within twenty-four months prior to a solicitation. See Nebraska Statutes 59-1705
- Seller-assisted marketing plan: shall mean the sale or lease or offer for sale or lease of any product, equipment, supplies, services, license, or any combination thereof which will be used by or on behalf of the purchaser to begin or maintain a business when:
(1) The seller of the plan has advertised or in other manner solicited the purchase or lease of the plan. See Nebraska Statutes 59-1703
- Service of process: The service of writs or summonses to the appropriate party.
- Services: shall mean any assistance, guidance, direction, work, labor, or services provided by the seller to initiate or maintain the seller-assisted marketing plan. See Nebraska Statutes 59-1710
- State: when applied to different states of the United States shall be construed to extend to and include the District of Columbia and the several territories organized by Congress. See Nebraska Statutes 49-801
- Supplies: shall mean any and all materials used to produce, grow, breed, or make any product or item. See Nebraska Statutes 59-1708
(1) The terms and conditions of payment including the initial payment, additional payments, and downpayment required;
(2) A full and detailed description of the acts or services the seller will undertake to perform for the purchaser;
(3) The seller’s principal business address and the name and address of its agent in the State of Nebraska authorized to receive service of process;
(4) The business form of the seller, whether a corporation, partnership, limited liability company, or otherwise;
(5) The delivery date or, when the contract provides for a staggered delivery of items to the purchaser, the approximate delivery date of those products, equipment, or supplies the seller is to deliver to the purchaser to enable the purchaser to begin or maintain his or her business and whether the products, equipment, or supplies are to be delivered to the purchaser’s home or business address or are to be placed or caused to be placed by the seller at locations owned or managed by persons other than the purchaser;
(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 or leasing, soliciting, or offering a seller-assisted marketing plan that there is a buy-back or that the initial payment is secured; and
(7) A statement which accurately sets forth a purchaser’s right to void the contract under the circumstances and in the manner set forth in sections 59-1752 to 59-1755.