1999 Minnesota Code
Chapters 324 - 338 Trade Regulations, Consumer Protection
Chapter 336 Uniform Commercial Code
Section 336.1-105 Territorial application of the chapter; parties' power to choose applicable law.
336.1-105 Territorial application of the chapter; 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 chapter applies to transactions bearing an appropriate relation to this state.
(2) Where 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 (including the conflict of laws rules) so specified:
Rights of creditors against sold goods. Section 336.2-402.
Applicability of the article on leases. Sections 336.2A-105 and 336.2A-106.
Applicability of the article on bank deposits and collections. Section 336.4-102.
Governing law in the article on funds transfers. Section 336.4A-507.
Letters of Credit. Section 336.5-116.
Applicability of the article on investment securities. Section 336.8-110.
Perfection provisions of the article on secured transactions. Section 336.9-103.
HIST: 1965 c 811 s 336.1-105; 1976 c 135 s 1; 1989 c 232 art 2 s 2; 1990 c 582 art 2 s 1; 1991 c 171 art 2 s 1; 1995 c 194 art 3 s 1; 1997 c 11 art 2 s 1
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