Sec. 27. It is unlawful for any person in connection with the offer, sale or purchase of any franchise, or in any filing made with the commissioner, directly or indirectly: (1) to employ any device, scheme or artifice to defraud; (2) to make any untrue statements of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of circumstances under which they are made, not misleading; or (3) to engage in any act which operates or would operate as a fraud or deceit upon any person.
Ind. Code § 23-2-2.5-27
Fraud or deceit unlawful
Applied in 4 court decisions — leading case Continental Basketball Ass'n v. Ellenstein Enterprises, Inc. (1996)
Most recently applied in 50 F. Supp. 2d 460 - Motor City Bagels, L.L.C. v. American Bagel Co. (June 1999)
Formerly: Acts 1975, P.L.262, SEC.1.
How often courts cite this section
Court decisions citing this, by year. The dip in the last several years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the most recent years, so recent citations are undercounted.
Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.