62A.1-105 - Territorial application of the title; parties' power to choose applicable law.

Territorial application of the title; parties' power to choose applicable law.

(1) Except as provided hereafter 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. Failing such agreement this Title applies to transactions bearing an appropriate relation to this state.

     (2) Where one of the following provisions of this Title specifies the applicable law, that provision governs and a contrary agreement is effective only to the extent permitted by the law (including the conflict of laws rules) so specified:

     Rights of creditors against sold goods. RCW 62A.2-402.

     Applicability of the Article on Leases. RCW 62A.2A-105 and 62A.2A-106.

     Applicability of the Article on Bank Deposits and Collections. RCW 62A.4-102.

     Governing law in the Article on Funds Transfers. RCW 62A.4A-507.

     Letters of Credit. RCW 62A.5-116.

     Applicability of the Article on Investment Securities. RCW 62A.8-110.

     Law governing perfection, the effect of perfection or nonperfection, and the priority of security interests and agricultural liens. RCW 62A.9A-301 through 62A.9A-307.

[2001 c 32 § 8; 2000 c 250 § 9A-801; 1997 c 56 § 19; 1995 c 48 § 54. Prior: 1993 c 395 § 6-102; 1993 c 230 § 2A-601; 1981 c 41 § 1; 1965 ex.s. c 157 § 1-105.]

Notes: Effective date -- 2001 c 32: See note following RCW 62A.9A-102.

Effective date -- 2000 c 250: See RCW 62A.9A-701.

Applicability--Savings--Transition provisions -- 1997 c 56: See RCW 62A.5-1013 and 62A.5-1015.

Savings -- 1995 c 48: See RCW 62A.8-601.

Effective date -- 1995 c 48: See RCW 62A.11-113.

Effective date -- 1993 c 230: See RCW 62A.11-110.

Effective date -- 1981 c 41: See RCW 62A.11-101.