14-1-105. TERRITORIAL APPLICATION OF THIS TITLE’ PARTIES’ POWER TO CHOOSE APPLICABLE LAW.

1. Except as provided hereafter in this section, when a transaction bears a reasonable relation to this Reservation and also another reservation, state or nation the parties may agree that the law either of this Reservation or of such other reservation, state or nation shall govern their rights and duties. Failing such agreement of this Title applies to transactions bearing an appropriate relation to this Reservation.
2. Where one of the following provisions of this Title 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. Rights of creditors against sold goods. Sales Chapter Section 402. Perfection provisions of the Chapter on Secured Transactions.