Georgia Governing Law Provisions
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FAQ
The law of the U.S. state of Georgia consists of several levels, including constitutional, statutory, and regulatory law, as well as case law and local law. The Official Code of Georgia Annotated forms the general statutory law.
They are: (1) obligatory force of obligations arising from contracts; (2) relativity of contracts; (3) consensuality of contracts; (4) autonomy of contracts; and (5) mutuality of contracts. These are the five general principles governing contracts.
Governing law is a contractual provision (also known as a choice of law provision) that determines which law shall apply in the event of a dispute. Such a clause is generally honored by the courts which do not interfere with the agreement of the parties regarding the applicable law.
A "choice of law" or "governing law" provision in a contract allows the parties to agree that a particular state's laws will be used to interpret the agreement, even if they live in (or the agreement is signed in) a different state.
Additionally, all government contracts are subject to the Federal Acquisition Regulation (FAR), which is codified in Parts 1 through 53 of Title 48, Chapter 1 of the Code of Federal Regulations.
The following rules apply unless the affected parties otherwise agree or subsection (c) applies: The rights and obligations between the sender of a payment order and the receiving bank are governed by the law of the jurisdiction in which the receiving bank is located.
