Article 5 - Illinois Statutes

      (735 ILCS 105/Art. 5 heading)ARTICLE 5

(735 ILCS 105/5‑1)     Sec. 5‑1. Short title. This Article may be cited as the Choice of Law and Forum Act. (Source: P.A. 90‑421, eff. 1‑1‑98.)

(735 ILCS 105/5‑5)     Sec. 5‑5. Choice of law. The parties to any contract, agreement, or undertaking, contingent or otherwise, in consideration of or relating to any obligation arising out of a transaction covering in the aggregate not less than $250,000, including a transaction otherwise covered by subsection (1) of Section 1‑105 of the Uniform Commercial Code, may agree that the law of this State shall govern their rights and duties in whole or in part, whether or not the contract, agreement, or undertaking bears a reasonable relation to this State. This Section shall not apply to any contract, agreement, or undertaking (i) for labor or personal services, (ii) relating to any transaction for personal, family, or household services, or (iii) to the extent provided to the contrary in subsection (2) of Section 1‑105 of the Uniform Commercial Code. Nothing contained in this Section shall be construed to limit or deny the enforcement of any provision respecting choice of law in any other contract, agreement, or undertaking. (Source: P.A. 90‑421, eff. 1‑1‑98.)

(735 ILCS 105/5‑10)     Sec. 5‑10. Choice of forum. Any person may maintain an action or proceeding against a foreign corporation, non‑resident, or foreign state if the action or proceeding arises out of or relates to any contract, agreement, or undertaking for which a choice of Illinois law has been made in whole or in part pursuant to Section 5‑5 and that (i) is a contract, agreement, or undertaking, contingent or otherwise, in consideration of or relating to any obligation arising out of a transaction covering in the aggregate not less than $500,000 and (ii) contains a provision or provisions under which the foreign corporation or non‑resident agrees to submit to the jurisdiction of the courts of this State. Nothing contained in this Section shall be construed to affect the enforcement of any provision respecting choice of forum in any contract, agreement, or undertaking. (Source: P.A. 90‑421, eff. 1‑1‑98.)