{"data":{"id":"us-ar/ark.-code-ann.-4-1-301","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 4-1-301","heading":"Territorial application of the subtitle — Parties' power to choose applicable law.","body":"(1) Except as 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. Failing such agreement this subtitle applies to transactions bearing an appropriate relation to this state.\n(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:\nRights of creditors against sold goods. Section 4-2-402.\nApplicability of the chapter on leases. Sections 4-2A-105 and 4-2A-106.\nApplicability of the chapter on bank deposits and collections. Section 4-4-102.\nGoverning law in the chapter on funds transfers. Section 4-4A-507.\nLetters of Credit. Section 4-5-116.\nApplicability of the chapter on Investment Securities. Section 4-8-110.\nLaw governing perfection, the effect of perfection or non-perfection, and the priority of security interests and agricultural liens. Sections 4-9-301 through 4-9-307.","path":["Title 4 Business and Commercial Law","Subtitle 1. Uniform Commercial Code","Chapter 1 General Provisions","Part 3 — Territorial Applicability and General Rules"],"source_url":"https://archive.org/download/gov.ar.code/release78.2020.11.06/gov.ar.code.title.04.odt","current_through":"2020-11-06","vintage":"Arkansas Code Release 78 (2020-11), retrieved 2026-09-17","retrieved_at":"2026-09-17T21:07:03Z","sha256":"d6b9e71f3129ddc323786b76a6357ac875d2bf94aa82be2d90fc21a757a25986","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-4-1-206","next":"us-ar/ark.-code-ann.-4-1-302"},"notice":"GroundRules: Original legal text. Not legal advice."}