435.465. Application of law.
Application of law.
435.465. 1. Sections 435.350 to 435.470 shall apply only to writtenagreements between commercial persons, or between such persons and thosewith whom they contract other than commercial persons, involving thesubmission of any existing controversy to arbitration, or involving awritten contract between commercial persons, or between such persons andthose with whom they contract other than commercial persons, to submit toarbitration any controversy thereafter arising between such parties. Suchagreements and provisions are valid, enforceable and irrevocable, save uponsuch grounds as exist at law or in equity for the revocation of anycontract.
2. As used in subsection 1 of this section, the term "commercialpersons" shall mean all persons and legal entities, excluding anygovernment or governmental subdivision or agency.
(L. 1980 H.B. 1203 § 24, A.L. 1995 H.B. 189, A.L. 1997 S.B. 243)