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Oregon statute on choice of law is below. As I read it section (2) says that if a cc contract said that the contract would be governed by the laws of the state of Delaware ( as I believe B of A agreements state), the sol there is 3 years and would be governing factor, as it would be "clearly demonstrated by the terms of the contract".

15.350 Choice of law made by parties. (1) Except as specifically provided by ORS 15.320, 15.325, 15.330, 15.335 or 15.355, the contractual rights and duties of the parties are governed by the law or laws that the parties have chosen. The choice of law may extend to the entire contract or to part of a contract.

(2) The choice of law must be express or clearly demonstrated from the terms of the contract. In a standard-form contract drafted primarily by only one of the parties, any choice of law must be express and conspicuous.

(3) The choice of law may be made or modified after the parties enter into the contract. Any choice of law made or modified after the parties enter into the contract must be by express agreement.

(4) Unless the parties provide otherwise, a choice of law or modification of that choice operates retrospectively to the time the parties entered into the contract. Retrospective operation under the provisions of this subsection may not prejudice the rights of third parties. [Formerly 81.120]

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IMO only 15.355 below might be limiting, but I don't think so; 15.360 would not apply if there is an explicit choice of state in the agreement (bold text is mine)

15.320 - [doesn't apply; it enumerates the types of contracts for which actions can be brought, but financial institutions are exempt, allowing them to bring actions for cc accounts etc. even though they are not listed ]

15.325 Validity of form. A contract is valid as to form if the contract meets the requirements prescribed either by the law chosen by the parties under ORS 15.350 and 15.355, the law applicable under ORS 15.320, 15.360 or 15.380, or the law of the state from which any party or the party’s agent has assented to the contract unless that state has no other connection to the parties or the transaction. [Formerly 81.110]

15.330 Capacity to contract. (1) A party has the capacity to enter into a contract if the party has that capacity under the law of the state in which the party resides or the law applicable to this issue under ORS 15.320, 15.360 or 15.380.

(2) A party that lacks capacity to enter into a contract under the law of the state in which the party resides may assert that incapacity against a party that knew or should have known of the incapacity at the time the parties entered into the contract. If a party establishes lack of capacity in the manner provided by this subsection, the consequences of the party’s incapacity are governed by the law of the state in which the incapable party resides. [Formerly 81.112]

15.335 Consent. (1) A party has consented to a contract if the law applicable under ORS 15.320, 15.360 or 15.380 so provides.

(2) In a consumer contract or employment contract, the consumer or employee whose assent to a contract was obtained in the state of the party’s residence, or whose conduct leading to the contract was primarily confined to that state, may invoke the law of that state to establish that the party did not consent to the contract or that the consent was not valid by reason of fraud or duress. [Formerly 81.115]

15.355 Limitations on choice of law by parties. (1) The law chosen by the parties pursuant to ORS 15.350 does not apply to the extent that its application would:

(a) Require a party to perform an act prohibited by the law of the state where the act is to be performed under the contract;

(B) Prohibit a party from performing an act required by the law of the state where it is to be performed under the contract; or

© Contravene an established fundamental policy embodied in the law that would otherwise govern the issue in dispute under ORS 15.360.

(2) For purposes of subsection (1)© of this section, an established policy is fundamental only if the policy reflects objectives or gives effect to essential public or societal institutions beyond the allocation of rights and obligations of parties to a contract at issue. [Formerly 81.125]

15.360 General rule. To the extent that an effective choice of law has not been made by the parties pursuant to ORS 15.350 or 15.355, or is not prescribed by ORS 15.320, 15.325, 15.330, 15.335 or 15.380, the rights and duties of the parties with regard to an issue in a contract are governed by the law, in light of the multistate elements of the contract, that is the most appropriate for a resolution of that issue. The most appropriate law is determined by:

(1) Identifying the states that have a relevant connection with the transaction or the parties, such as the place of negotiation, making, performance or subject matter of the contract, or the domicile, habitual residence or pertinent place of business of a party;

(2) Identifying the policies underlying any apparently conflicting laws of these states that are relevant to the issue; and

(3) Evaluating the relative strength and pertinence of these policies in:

(a) Meeting the needs and giving effect to the policies of the interstate and international systems; and

(B) Facilitating the planning of transactions, protecting a party from undue imposition by another party, giving effect to justified expectations of the parties concerning which state’s law applies to the issue and minimizing adverse effects on strong legal policies of other states. [Formerly 81.130]

Edited by ccposter
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