Nebraska Statutes 59-1744. Marketing plan contract; contain notice of right to cancel
Every seller-assisted marketing plan contract shall set forth immediately above the place at which the purchaser signs the contract in at least ten-point type the following:
Terms Used In Nebraska Statutes 59-1744
- Contract: A legal written agreement that becomes binding when signed.
- 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
- 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
- Supplies: shall mean any and all materials used to produce, grow, breed, or make any product or item. See Nebraska Statutes 59-1708
- United States: shall include territories, outlying possessions, and the District of Columbia. See Nebraska Statutes 49-801
You have three business days in which you may cancel this contract for any reason by mailing or delivering written notice to the seller-assisted marketing plan seller. The three business days shall expire on ……………………, (last date to mail or deliver notice) and notice of cancellation should be mailed to …………………………………., (seller-assisted marketing plan seller’s name and business street address). If you choose to mail your notice, it must be placed in the United States mail properly addressed, first-class postage prepaid, and postmarked before midnight of the above date. If you choose to deliver your notice to the seller directly, it must be delivered to him or her by the end of his or her normal business day on the above date. Within five business days of receipt of the notice of cancellation, the seller shall return to the purchaser all sums paid by the purchaser to the seller pursuant to this contract. Within five business days after receipt of all such sums, the purchaser shall make available at his or her address or at the place at which they were caused to be located, all equipment, products, and supplies provided to the purchaser pursuant to this contract. Upon demand of the seller, such equipment, products, and supplies shall be made available at the time the purchaser receives full repayment by cash, money order, or certified check.