It is unlawful for any person in connection with the offer, sale or purchase of any franchise directly or indirectly:

1. (1) To sell or offer to sell a franchise in this state by means of any written or oral communication which includes an untrue statement of a material fact.
2. (2) To employ any device, scheme or artifice to defraud.
3. (3) To engage in any act, practice or course of business which operates or would operate as a fraud or deceit upon any person.

[1987 c.917 §10]