§ 25-1-301. Territorial applicability; parties' power to choose applicable law.
PART 3.
TERRITORIAL APPLICABILITY ANDGENERAL RULES.
§ 25‑1‑301. Territorial applicability; parties' power to choose applicable law.
(a) Except as otherwiseprovided in this section, when a transaction bears a reasonable relation tothis State and also to another state or nation the parties may agree that thelaw either of this State or of such other state or nation shall govern theirrights and duties.
(b) In the absence ofan agreement effective under subsection (a) of this section, and except asprovided in subsection (c) of this section, this Chapter applies totransactions bearing an appropriate relation to this State.
(c) If one of thefollowing provisions of this Chapter specifies the applicable law, thatprovision governs and a contrary agreement is effective only to the extentpermitted by the law so specified:
(c) (1) G.S.25‑2‑402;
(2) G.S. 25‑2A‑105and G.S. 25‑2A‑106;
(3) G.S. 25‑4‑102;
(4) G.S. 25‑4A‑507;
(5) G.S. 25‑5‑116;
(6) G.S. 25‑8‑110;
(7) G.S. 25‑9‑301through G.S. 25‑9‑307. (1965, c. 700, s. 1; 1975, c. 862, s. 1; 1993, c. 157,s. 2; 1997‑181, s. 17; 1999‑73, s. 2; 2000‑169, s. 3; 2004‑190,s. 2; 2006‑112, s. 1.)