Provisions in commercial mortgage loan documents, where a particular state law is “selected” as the governing law, can drive a deal into a ditch, and take a good (or growing) lending relationship into the emergency room. In many situations, this topic is a good example of over-thinking, and perhaps over-lawyering.
- Simply stated, which of these two thinkers gets it right on using (or not using) choice of law provisions in a typical commercial mortgage loan?
The choice of law topic is a very intellectually rich subject for lawyers. Much is written about it. Entire books. It is a class topic for an entire semester in law schools. It is a wonderful topic for lawyers. It “invites” debate and discussion. And confusion.