SeattleLawMom pushed for detailed planning — an estates lawyer herself, she has two backups to her first choice, a clause requiring that the first choice still be married, and another clause insisting on grandparent visitation rights.
The Framers' choice in Clause 14 was to give Congress the same flexibility to exercise or share power as times might demand.
Since "financial services" cover a broad range of products, it is likely, in the absence of a choice of forum clause, that Article 5(1)(b), if applicable to "financial services," will determine which court has jurisdiction over a dispute arising under financial service contracts.
No doubt the bondholders, noting the New York choice of law clause and submission of jurisdiction in Manhattan in the indenture, would greatly prefer to see this case filed in New York.
It also does have a choice of forum clause that selects New York as a non-exclusive forum for disputes and is governed by New York law, no specific language providing for specific performance – but no bar, either – and a limitation on "special" damages that, by its literal terms, applies to the actual credit facility and the debt commitment letter itself.
Consider a "choice of law" clause.
Include a choice of law clause to specify which laws will govern the contract.
A choice of law clause may look like this: Governing Law - This Agreement shall be governed in all respects by the laws of the United States of America and by the laws of the State of Indiana.
A "choice of law" clause allows the parties to agree upon which country or state's law shall be used to settle any dispute which may arise under the contract.
Forum and choice of law clauses matter.
The choice-of-forum clause is especially tricky, he said.
