North Carolina General Statutes 25-1-301. 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 the other state or nation shall govern their rights and duties. Except as otherwise provided in subsection (c) of this section, the parties to a business contract as defined in N.C. Gen. Stat. § 1G-2(1) may agree in the business contract that North Carolina law shall govern their rights and duties in whole or in part, pursuant to N.C. Gen. Stat. § 1G-3
(b) In the absence of an agreement effective under subsection (a) of this section, and except as provided in subsection (c) of this section, this Chapter applies to transactions bearing an appropriate relation to this State.
(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 specified law:
(1) N.C. Gen. Stat. § 25-2-402;
(2) N.C. Gen. Stat. § 25-2A-105 and N.C. Gen. Stat. § 25-2A-106;
(3) N.C. Gen. Stat. § 25-4-102;
(4) N.C. Gen. Stat. § 25-4A-507;
(5) N.C. Gen. Stat. § 25-5-116;
(6) N.C. Gen. Stat. § 25-8-110;
(7) N.C. Gen. Stat. § 25-9-301 through N.C. Gen. Stat. § 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; 2017-123, s. 2.)
Terms Used In North Carolina General Statutes 25-1-301
- Contract: A legal written agreement that becomes binding when signed.
- following: when used by way of reference to any section of a statute, shall be construed to mean the section next preceding or next following that in which such reference is made; unless when some other section is expressly designated in such reference. See North Carolina General Statutes 12-3
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall be construed to include the said district and territories and all dependencies. See North Carolina General Statutes 12-3