Heffernan and Enochs will discuss considerations when determining choice of law, and why New York is so prevalent in Trading Agreements. This discussion will include topics such as exclusive vs. non-exclusive jurisdiction; drafting decisions regarding statutory references, specification of venue; and broadening choice of forum clause applicability to non-contractual issues. As you will hear, New York permits (and encourages) agreements to use New York as a forum, even in the absence of a party nexus with New York, provided certain criteria are met. What if exclusive New York jurisdiction is specified in a contract, but the criteria are not met, or New York choice of forum law is found to be unconstitutional? Recent developments, including 2018 ISDA model clauses, model clauses added to the New York court Administrative Rules in 2018, and case law will be presented.
To understand if New York Law is always the best choice or if, should you pick another state.