§ 10-35

Illinois § 10-35

• Jurisdiction: Illinois
• Topic: BUSINESS AND EMPLOYMENT
• Ch. 815: BUSINESS TRANSACTIONS
• Act 815 ILCS 307/: Illinois Business Brokers Act of 1995.
• Art.: Article 10 -

Text

Contracts required to be in writing; retention of copy by client. To be enforceable, every contract for the services of a business broker shall be in writing and signed by all contracting parties. The client shall have the right to retain a copy of the signed contract for the services of a business broker. The client's copy of the contract shall be provided to the client when the contract is signed, if that is reasonably feasible and the client so requests. Otherwise, the contract shall be mailed or otherwise sent to the client within one week of execution. No account number, as referred to in Section 10-75 of this Act, is required on the client's copy of the contract.

Legislative History

(Source: P.A. 89-209, eff. 1-1-96; 90-70, eff. 7-8-97.)