Okla. Stat. tit. 12A, § 12A-1-301
This is the official text of Okla. Stat. tit. 12A, § 12A-1-301, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Territorial applicability - Parties’ power to choose
Official statutory text
applicable law.
Territorial Applicability; Parties' Power to Choose Applicable
Law.
(a) 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.
(b) To the extent that the Uniform Commercial Code governs a
transaction, if one of the following provisions of the Uniform
Commercial Code 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 2-402 of this title;
(2) Sections 2A-105 and 2A-106 of this title;
(3) Section 4-102 of this title;
(4) Section 4A-507 of this title;
(5) Section 5-116 of this title;
(6) Section 8-110 of this title;
(7) Sections 1-9-301 through 1-9-307 of this title; and
(8) Section 12-107 of this title.
Territorial Applicability; Parties' Power to Choose Applicable
Law.
(a) 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.
(b) To the extent that the Uniform Commercial Code governs a
transaction, if one of the following provisions of the Uniform
Commercial Code 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 2-402 of this title;
(2) Sections 2A-105 and 2A-106 of this title;
(3) Section 4-102 of this title;
(4) Section 4A-507 of this title;
(5) Section 5-116 of this title;
(6) Section 8-110 of this title;
(7) Sections 1-9-301 through 1-9-307 of this title; and
(8) Section 12-107 of this title.
Status: in_force · Read it on the official government site
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