Delaware Code Title 28 Sec. 932 – Contracts
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(a) All contractual agreements between promoters and sponsors shall be written in clear text, plain language.
Terms Used In Delaware Code Title 28 Sec. 932
- Promoter: shall mean any person who, privately or as a business agent for a professional enterprise, offers services to another person or organization and in return for the use of that person's/organization's name as sponsor, and a fee, commission or profit share, acquires, advertises and conducts a paid entertainment event for the general public. See Delaware Code Title 28 Sec. 929
- Sponsor: shall mean any person or organization who agrees, verbally or in writing, to authorize the use of their name as an indorsement for, and supporter of, a paid public entertainment event promoted by another individual or business enterprise. See Delaware Code Title 28 Sec. 929
(b) The contractual agreement shall contain, in an appropriate location, the promoter‘s current Delaware occupational license number.
(c) Distribution of the profits of the venture shall be stated specifically as a percentage for the sponsor and the promoter or as a specific dollar share for the sponsor.
(d) Any fees or commissions agreed to for the promoter shall be considered as a part of the promoter’s share of the profits and not an operating expense of preparing for and conducting the event.