Contracts required to be in writing; contents
Va. Code Ann. § 59.1-267
in effectA. Every business opportunity sales contract shall be in writing and a copy shall be given to the purchaser at the time he signs the contract.
B. Every contract for the sale of a business opportunity shall include the following:
1. The terms and conditions of payment;
2. A full and detailed description of the acts or services that the business opportunity seller undertakes to perform for the purchaser;
3. The seller's principal business address and the name and address of its agent in the Commonwealth of Virginia authorized to receive service of process;
4. A full and detailed description of any product, products, equipment or supplies the business opportunity seller is to deliver to the purchaser;
5. The approximate delivery date of any product, products, equipment, or supplies the business opportunity seller is to deliver to the purchaser.
1979, c. 523.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://law.lis.virginia.gov/vacode/59.1-267/Fetched: 10/16/2026