Home Table of Contents

§ 1-301. Territorial applicability; parties' power to choose applicable law

West's Annotated Code of MarylandCommercial LawEffective: June 1, 2012

West's Annotated Code of Maryland
Commercial Law
Title 1. General Provisions (Refs & Annos)
Subtitle 3. Territorial Applicability and Applicable Law (Refs & Annos)
Effective: June 1, 2012
MD Code, Commercial Law, § 1-301
§ 1-301. Territorial applicability; parties' power to choose applicable law
Currentness
(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.
(b) In the absence of an agreement effective under subsection (a) of this section, and except as provided in subsection (c) of this section, the Maryland Uniform Commercial Code applies to transactions bearing an appropriate relation to this State.
(c) If one of the following provisions of the Maryland Uniform Commercial Code 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:
(1) Section 2-402;
(2) Sections 2A-105 and 2A-106;
(3) Section 4-102;
(4) Section 4A-507;
(5) Section 5-116;
(6) Section 6-103;
(7) Section 8-110; or
(8) Sections 9-301 through 9-307.

Credits

Added by Acts 2012, c. 673, § 2, eff. June 1, 2012.
MD Code, Commercial Law, § 1-301, MD COML § 1-301
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document