Document Type

Article

Publication Date

5-2009

Keywords

Commercial contracts, New York law, Choice-of-law clauses, Forum-selection clauses, Rule of revocability

Disciplines

Contracts | Jurisdiction | Law and Society

Abstract

Recent empirical work has established that New York supplies the law and forum in nearly half the material commercial contracts of public firms. In this respect New York plays a role for commercial contracts analogous to the role played by Delaware with respect to corporate charters. Is the revealed preference for New York law and forum merely the result of choices made by the contracting parties, or does New York actively compete for this business? This paper describes ways in which New York seeks to attract and retain corporate contracts in competition with other potential providers of law and forum. More generally, the paper demonstrates the existence of a robust market for choices of law and forum in major corporate contracts.

Publication Citation

Published in: Cardozo Law Review, vol. 30, no. 5 (May 2009).