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An applicable law clause expressly records an agreement, made during contract negotiations, as to the applicable law to be applied by the courts in the event the courts are required to determine a dispute between the parties to the contract.
Applicable Law means any and all laws, ordinances, constitutions, regulations, statutes, treaties, rules, codes, licenses, certificates, franchises, permits, principles of common law, requirements and Orders adopted, enacted, implemented, promulgated, issued, entered or deemed applicable by or under the authority of ...