Indiana § 24-5-8-16 Voiding contracts

Indiana Statutes

§ 24-5-8-16 — Voiding contracts

Indiana·Art. 5 CONSUMER SALES·Ch. 8 Business Opportunity Transactions

(a)If a seller:

(1)uses any untrue, misleading, or deceptive statements in a business opportunity transaction;

(2)fails to deliver the goods or services necessary to begin substantial operation of the business within forty-five (45) days of the delivery date stated in the contract; or

(3)fails to comply with section 6 of this chapter; the investor may void the contract within one (1) year of the date of the contract by giving written notice to the seller and is entitled to a return from the seller of all consideration paid to the seller.

(b)Upon receipt by the investor of the consideration paid to the seller, the investor shall make available to the seller, at a reasonable time and place, the goods received by the investor. However, the investor is not entitled to unjust enrichment by

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(a) If a seller:
(1) uses any untrue, misleading, or deceptive statements in a
business opportunity transaction;
(2) fails to deliver the goods or services necessary to begin
substantial operation of the business within forty-five (45) days of
the delivery date stated in the contract; or
(3) fails to comply with section 6 of this chapter;
the investor may void the contract within one (1) year of the date of the
contract by giving written notice to the seller and is entitled to a return
from the seller of all consideration paid to the seller.
(b) Upon receipt by the investor of the consideration paid to the
seller, the investor shall make available to the seller, at a reasonable
time and place, the goods received by the investor. However, the
investor is not entitled to unjust enrichment by exercising the rights
provided by this section.

Indiana § 24-5-8-16 (Voiding contracts) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.