Missouri Laws 400.1-301 – Territorial applicability — parties’ power to choose applicable law
(a) Except as otherwise provided in this section, when a transaction bears a reasonable relation to this state and also to another state or nation the parties may agree that the law either of this state or of such other state or nation shall govern their rights and duties.
(b) In the absence of an agreement effective under subsection (a), and except as provided in subsection (c), this chapter applies to transactions bearing an appropriate relation to this state.
Terms Used In Missouri Laws 400.1-301
- following: when used by way of reference to any section of the statutes, mean the section next preceding or next following that in which the reference is made, unless some other section is expressly designated in the reference. See Missouri Laws 1.020
- State: when applied to any of the United States, includes the District of Columbia and the territories, and the words "United States" includes such district and territories. See Missouri Laws 1.020
(c) If one of the following provisions of this chapter specifies the applicable law, that provision governs and a contrary agreement is effective only to the extent permitted by the law so specified:
(1) section 400.2-402;
(2) sections 400.2A-105 and 400.2A-106;
(3) section 400.4-102;
(4) section 400.4A-507;
(5) section 400.5-116;
(6) section 400.8-110;