Virginia § 8.1A-301 - Territorial applicability; parties' power to choose applicable law
Full text of Virginia Code of Virginia § 8.1A-301 — Territorial applicability; parties' power to choose applicable law, with citation guidance and answers to common questions.
§ 8.1A-301. Territorial applicability; parties' power to choose applicable law
(a) This section applies to a transaction to the extent that it is governed by another title of the Uniform Commercial Code.
(b) 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 such other state or nation shall govern their rights and duties.
(c) In the absence of an agreement effective under subsection (b), the rights and obligations of the parties are determined by the law that would be selected by application of this State's conflict of laws principles.
(d) To the extent that the Uniform Commercial Code governs a transaction, 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) Rights of creditors against sold goods. § 8.2-402;
(2) Applicability of the title on leases. §§ 8.2A-105 and 8.2A-106;
(3) Applicability of the title on bank deposits and collections. § 8.4-102;
(4) Applicability of the title on funds transfers. § 8.4A-507;
(5) Letters of credit. § 8.5A-116;
(6) Applicability of the title on investment securities. § 8.8A-110;
(7) Law governing perfection, the effect of perfection or nonperfection, and the priority of security interests and agricultural liens. §§ 8.9A-301 through 8.9A-307;
(8) Controllable Electronic Records. § 8.12-107.
1964, c. 219, § 8.1-105; 1973, c. 509; 1990, c. 9; 1991, c. 536; 1996, c. 216; 1997, cc. 121, 343; 2000, c. 1007; 2003, c. 353; 2011, c. 369; 2024, c. 652.
Source: official Virginia text · Last verified 2026-08-27
Frequently Asked Questions About Virginia § 8.1A-301
What does Code of Virginia § 8.1A-301 cover?
Section 8.1A-301 ("Territorial applicability; parties' power to choose applicable law") is part of the Code of Virginia, the codified statutory law of Virginia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Virginia § 8.1A-301?
A common citation format is "Code of Virginia § 8.1A-301" (Virginia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Virginia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Virginia official source linked on this page or consult a licensed Virginia attorney.
How does Virginia § 8.1A-301 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Virginia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Virginia.