(815 ILCS 602/5-120)
Sec. 5-120.
Rescission; surety bond.
(a) Any person who violates Section 5-25, 5-50, subsection (a) of Section
5-35, or subsection (a) of Section 5-40
of this Law, is liable to the purchaser who may sue either at
law or in equity for rescission, for recovery of all money or
other valuable consideration paid for the business opportunity
and for actual damages, together with interest at 10% per annum
from the date of sale, reasonable attorney's fees and court
costs.
(b) Any person who violates Section 5-95, 5-105, or 5-110 of this
Law is liable to the purchaser who may sue either at law or in
equity for rescission, for recovery of all money or other
valuable consideration paid for the business opportunity and for
treble the actual damages, together with interest at 10% per
annum from the date of sale, reasonable attorney's fees and
court costs.
(c) Any person who violates Section 5-95, 5-105, 5-110, or subsection (a) of
Section 5-35
of this Law, or who breaches any business opportunity contract or
agreement or any obligation arising under the contract or
agreement is liable to the purchaser who may sue the surety of
the bond, either at law or in equity to recover all money or
other valuable consideration paid for the business opportunity
and actual damages, together with interest at 10% per annum from
the date of sale, reasonable attorney's fees and court costs.
The liability of the surety shall not exceed the amount of the
bond.
(Source: P.A. 89-209, eff. 1-1-96.)
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