1. The Laws of New York
  2. Consolidated Laws
  3. General Obligations
  4. Article 5: Creation, Definition and Enforcement of Contractual Obligations
  5. Title 14: Enforceability of Clauses Respecting Choice of Law and Choice of Forum In Certain Transactions

Section 5-1401 Choice of law

General Obligations (GOB)

1. The parties to any contract, agreement or undertaking, contingent or otherwise, in consideration of, or relating to any obligation arising out of a transaction covering in the aggregate not less than two hundred fifty thousand dollars, including a transaction otherwise covered by subsection (a) of section 1--301 of the uniform commercial code, may agree that the law of this state shall govern their rights and duties in whole or in part, whether or not such contract, agreement or undertaking bears a reasonable relation to this state. This section shall not apply to any contract, agreement or undertaking (a) for labor or personal services, (b) relating to any transaction for personal, family or household services, or (c) to the extent provided to the contrary in subsection (c) of section 1--301 of the uniform commercial code.

  2. Nothing contained in this section shall be construed to limit or deny the enforcement of any provision respecting choice of law in any other contract, agreement or undertaking.