Territorial application of this subtitle; parties’ power to choose applicable law

§ 28:1—105. Territorial application of this subtitle; parties’ power to choose applicable law (1) Except as provided hereafter in this section, when a transaction bears a reasonable relation to the District and also to a state or nation the parties may agree that the law either of the District or of such state or nation shall govern their rights and duties. Failing such agreement this subtitle applies to transactions bearing an appropriate relation to the District. (2) Where one of the following provisions of this subtitle 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. Section 28:2—402. Applicability of the article on bank deposits and collections, Section 28A—102.77 Stat. 632 Bulk transfers subject to the article on bulk transfers. Section 28:6—102. Applicability of the article on investment securities. Section 28:8—106. Policy and scope of the article on secured transactions. Sections 28:9—102 and 28:9—103.