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Texas Statutes (Last Updated: January 4, 2014) |
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BUSINESS AND COMMERCE CODE |
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Title 4. BUSINESS OPPORTUNITIES AND AGREEMENTS |
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Chapter 51. BUSINESS OPPORTUNITIES |
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Subchapter G. ENFORCEMENT |
Sec. 51.301. PROHIBITED ACTS
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A seller may not:
(1) employ a representation, device, scheme, or artifice to deceive a purchaser;
(2) make an untrue statement of a material fact or omit to state a material fact in connection with the documents and information required to be provided to the secretary of state or purchaser;
(3) represent that the business opportunity provides or will provide income or earning potential unless the seller:
(A) has documented data to substantiate the representation of income or earning potential; and
(B) discloses the data to the purchaser when the representation is made; or
(4) make a claim or representation that is inconsistent with the information required to be disclosed by this chapter in:
(A) advertising or other promotional material; or
(B) an oral sales presentation, solicitation, or discussion between the seller and the purchaser.