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1、 融經(jīng)國(guó)際商法咨詢(xún)服務(wù) Gnosis&Praxis Intl Commercial & Regulatory Consulting o Parties can always choose the law in the contract for matters of contract construction o Parties can choose the law to govern matters of contract validity provided: § Choice is not contrary to a fundamental interest of
2、the state with a greater interest than the chosen state § A substantial relationship to the parties/transaction exists § Choice is free from duress (not a contract of adhesion o NY Special Rules on Large Contracts § Contract for $250,000 or more · Parties can chose NY law, even i
3、f contract has no connection with NY § Contract for $1,000,000 or more & parties choose NY law in contract · Parties may put in clause specifying that NY may be forum and courts are prohibited from dismissing under forum non conveniens o NY has abandoned the Vested Rights Rule in Contr
4、acts in favor of Babcock test o “Significant Relationship to the contract” term of art applied to state chosen after interest analysis is applied o Special Rule for Insurance Contracts: § All issues regarding the rights and duties under an insurance policy are determined by the state where the
5、policy is written REAL PROPERTY o Law of situs of the property governs (place where property is located PERSONAL PROPERTY o Law of situs of the property governs (place where property is located § EXCEPTION: · Property passing by intestacy, then state of deceaseds domicile at death applies.
6、 INHERITANCE o Non-NY domiciliary can choose NY law in a will to apply to the disposition of NY assets (applies even if it would oust wife from elective share FAMILY LAW o Marriage is valid where marriage celebrated/performed § EXCEPTION: · Marriage would violate the strong public policy o
7、f the state, then it may not be recognized even though it was valid where performed o Marriages void where performed are void everywhere § EXCEPTION: · If marriage void because failed to comply with technical requirement of the state where performed, it can still be recognized in NY if it would have complied wit
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