Idaho Code 55-919 – Governing Law
Current as of: 2023 | Check for updates
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(1) In this section, the following rules shall determine a debtor’s location:
(a) A debtor who is an individual is located at the individual’s principal residence;
(b) A debtor that is an organization and has only one (1) place of business is located at its place of business; and
(c) A debtor that is an organization and has more than one (1) place of business is located at its chief executive office.
(2) A claim in the nature of a claim under this act is governed by the local law of the jurisdiction in which the debtor is located when the transfer is made or the obligation is incurred.
Terms Used In Idaho Code 55-919
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.