Nebraska Uniform Commercial Code 1-301
- Uniform Commercial Code
Territorial applicability; parties' power to choose applicable law.
(a) Except as otherwise provided in this section, when a transaction bears a reasonable relation to this state and also to another state or nation the parties may agree that the law either of this state or of such other state or nation shall govern their rights and duties.
(b) In the absence of an agreement effective under subsection (a), and except as provided in subsection (c), the Uniform Commercial Code applies to transactions bearing an appropriate relation to this state.
(c) If one of the following provisions of the Uniform Commercial Code specifies the applicable law, that provision governs and a contrary agreement is effective only to the extent permitted by the law so specified:
(1) Section 2-402;
(3) Section 4-102;
(4) Section 4A-507;
(5) Section 5-116;
(6) Section 8-110;
Source: Former section 1-105.
Changes from former law: This section is substantively identical to former section 1-105. Changes in language are stylistic only.
This section is subject to section 1-102, which states the scope of article 1. As that section indicates, the rules of article 1, including this section, apply to a transaction to the extent that transaction is governed by one of the other articles of the Uniform Commercial Code.