(1) Every business
opportunity contract shall be in writing and shall be dated and
signed by the purchaser.
(2) The seller shall provide the purchaser with a copy of the
completed contract at the time the purchaser signs the contract.
(3) The seller may not receive any consideration before the
purchaser signs a business opportunity contract.
(4) The contract shall include the following notifications, in
ten point type, immediately above the space for the purchaser's
signature:
(a) "Do not sign this contract if any of the spaces for agreed
terms are blank."
(b) "Do not sign this contract unless you received a written
disclosure document from the seller at least forty-eight hours
before signing."
(c) "You are entitled to a copy of this contract at the time
you sign it."
(d) "You have seven days exclusive of Saturday, Sunday, and
holidays to cancel this contract for any reason by sending written
notice to the seller by certified mail, return receipt requested. Notice of cancellation should be mailed to:
. . . . . . . . . . . .
[1981 c 155 § 11.]