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I NTERNAT I ONAL COMMERC I AL LAW
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choice the parties can select the law applicable to the
whole or a part only of the contract.
(2) The parties may also agree that the applicable law
shall be applied to the whole or part of the contract in
question.
(3) The parties may at any time agree to subject the
contract to a law other than that which previously
governed it, whether as a result of an earlier choice under
this Article or of other provisions of this Convention. Any
variation by the parties of the law to be applied made
after the conclusion of the contract shall not prejudice
its formal validity under Article 9 or adversely affect the
rights of third parties
.
(4) To the extent that the law applicable to the contract
has not been chosen in accordance with article 3, the
contract shall be governed by the law with which it is most
closely connected. It shall be presumed that the contract
is most closely connected with the law where the party
who is to effect the performance which is characteristic of
the contract has, at the time of conclusion of the contract,
his habitual residence, or, in the case of a body corporate
or unincorporate, its central administration. However, if
the contract is entered into in the course of that party’s
trade or profession, that law shall be the law in which the
principal place of business is situated or, where under the
terms of the contract the performance is to be effected
through a place of business other than the principal place
of business, the law in which that other place of business
is situated. However, if it appears from the circumstances
as a whole that the contract is more closely connected
with another law, that law shall be applied.
In its decisions with regard to the applicable law, while Law No.2675
on International Private Law and Procedural Law was in force, the 11
th
Civil Chamber of the Court of Appeal indicated that the applicable law
agreed upon in the respective contracts will be taken into consideration by
consistently stating that,
“…In accordance with the respective provision