kaal:claim:2029983-037

A contract selecting non-U.S. securities law can fail entirely: if the chosen jurisdiction's courts decline jurisdiction because the transaction did not clear there or the parties lack a local presence, the contract may as a practical matter mean that no law applies.

Source quote, verbatim

If so, the contract to apply non- U.S. law might as a practical matter mean that no law applies.

From

Wulf A. Kaal, Richard W. Painter, Forum Competition and Choice of Law Competition in Securities Law after Morrison v. National Austral (2012), III.C. Integrating Choice of Law into Post-Morrison Securities Law, p. 68
https://ssrn.com/abstract=2029983 · source PDF

Cite as

Wulf A. Kaal, Richard W. Painter, Forum Competition and Choice of Law Competition in Securities Law after Morrison v. National Austral (2012). SSRN: https://ssrn.com/abstract=2029983

Holds when

the chosen foreign jurisdiction must actually accept jurisdiction and apply its law
one party may be better informed about this risk than the other

Classification

failuresupport: arguedfailure: chosen-law-not-appliedfamily: jurisdictional-conflictlaw-and-legal-systemsrisk-and-incentives

Verify

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Attestation record: colloquium/attestations/2ae264bf245cd0ce...json
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