§ 34.1-1-301 — Territorial applicability; parties' power to choose applicable law

(a) 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 of such other state or nation shall
govern their rights and duties.
(b) In the absence of an agreement effective under
subsection (a) of this section, and except as provided in
subsection (c) of this section, this act applies to transactions
bearing an appropriate relation to this state.
(c) If one (1) of the following provisions of this act
specifies the applicable law, that provision governs and a
contrary agreement is effective only to the extent permitted by
the law so specified:
(i) W.S. 34.1-2-402;
(ii) W.S. 34.1-2.A-105 and 34.1-2.A-106;
(iii) W.S. 34.1-4-102;
(iv) W.S 34.1-4.A-507;
(v) W.S. 34.1-5-116;
(vi) Reserved;
(vii) W.S. 34.1-8-110;
(viii) W.S. 34.1-9-301 through 34.1-9-307.