Sec. 271.005. LAW GOVERNING ISSUE RELATING TO QUALIFIED TRANSACTION. (a) Except as provided by Section 271.007, 271.008(b), 271.009, 271.010, or 271.011 or by Chapter 272, the law of a particular jurisdiction governs an issue relating to a qualified transaction if:
(1) the parties to the transaction agree in writing that the law of that jurisdiction governs the issue, including the validity or enforceability of an agreement relating to the transaction or a provision of the agreement; and
(2) the transaction bears a reasonable relation to that jurisdiction.
(b) The law of a particular jurisdiction governs an issue described by this section regardless of whether the application of that law is contrary to a fundamental or public policy of this state or of any other jurisdiction.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 2.01, eff. April 1, 2009.
Structure Texas Statutes
Title 9 - Applicability of Law to Commercial Transactions
Chapter 271 - Rights of Parties to Choose Law Applicable to Certain Transactions
Section 271.002. Substantially Similar or Related Transactions
Section 271.003. Conflict-of-Laws Rules
Section 271.004. Determination of Reasonable Relation of Transaction to Particular Jurisdiction
Section 271.005. Law Governing Issue Relating to Qualified Transaction
Section 271.008. Applicability to Certain Real Property Transactions; Exceptions
Section 271.009. Exception: Marriage or Adoption
Section 271.010. Exception: Decedent's Estate
Section 271.011. Exception: Other Statute Specifying Governing Law