(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.
Terms Used In Tennessee Code 47-1-301
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(b) In the absence of an agreement effective under subsection (a), and except as provided in subsection (c), chapters 1-9 of this title apply to transactions bearing an appropriate relation to this state.(c) If one (1) of the following provisions of chapters 1-9 of this title 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 47-2-402;(2) Sections 47-2A-105 and lease to choose applicable law and judicial forum” class=”unlinked-ref” datatype=”S” sessionyear=”2021″ statecd=”TN” title=”47″>47-2A-106;(3) Section 47-4-102;(4) Section 47-4A-507;(5) Section 47-5-116;(6) Section 47-8-110; or(7) Sections 47-9-301 – 47-9-307.
