Is this legal? "Choice of Law" in contract?
Date: Mon, 01/26/2009 - 04:40
I'm in California and have the below in a payday loan contract. Moderators, please let me know if this negates state law.
Lender and Borrower hereby stipulate and agree that this transaction is made pursuant to the laws of Nevis and that Nevis law shall
control the rights, duties, and obligations of the parties hereto without regards to Nevis choice of law provisions. Borrower and Lender further stipulate and agree that any
dispute regarding this loan or arising out of or in any way related to this loan transaction shall be instituted solely in court in Nevis.
Lender and Borrower hereby stipulate and agree that this transaction is made pursuant to the laws of Nevis and that Nevis law shall
control the rights, duties, and obligations of the parties hereto without regards to Nevis choice of law provisions. Borrower and Lender further stipulate and agree that any
dispute regarding this loan or arising out of or in any way related to this loan transaction shall be instituted solely in court in Nevis.
The laws in the state you reside + federal take precedence.
The laws in the state you reside + federal take precedence.
I would just shoot them back an email which reads: Please not
I would just shoot them back an email which reads:
Please note I am not a resident of Nevis, have never prescribed to be a resident Nevis and have no Nevis presence, as such am not subject to the Nevis laws you detail. Have a nice day!
reply
all ipdl contracts have that,it means nothing.as nascar stated your state laws prevail.also take shazzers suggestion and shoot an e-mail just like the one in her post.
