Chapter 9: Party Autonomy
ALI Principles § 302. Agreements Pertaining to Choice of Law (1) Subject to the other provisions of this Section, the parties may agree at any time, including after a dispute arises, to designate a law that will govern all or part of their dispute. (2) The parties may not choose the law that will govern the following issues: (a) the validity and maintenance of registered rights; (b) the existence, attributes, transferability, and duration of rights, whether or not registered; and (c) formal requirements for recording assignments and licenses. (3) Any choice-of-law agreement under subsection (1) may not adversely affect the rights of third parties. (4) (a) Except as provided in subsection (5), a choice-of-law agreement is valid if it is valid under the designated law. (b) Capacity of a party to enter into the agreement is determined by the internal law of the State in which that party was resident at the time the agreement was concluded; if that party had more than one residence, capacity will be recognized if it existed under the law of any one of its residences (5) (a) In addition, choice-of-law clauses in standard form agreements are valid only if the choice-of-law clause was reasonable and readily accessible to the nondrafting party at the time the agreement was concluded, and is available for subsequent reference by the court and the parties. (b) Reasonableness under subsection (a) is determined in light of: (i) the closeness of the connection between the parties, the substance of the agreement, and...
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