Legal Definitions - elected domicile

Definition: Elected domicile is a contractually agreed domicile between parties for purposes of the contract. Domicile refers to a person's true, fixed, principal, and permanent home, to which that person intends to return and remain even though currently residing elsewhere.

Example: Two parties, A and B, enter into a contract that specifies that their elected domicile for the purposes of the contract is New York City. This means that any legal disputes arising from the contract will be resolved in New York City, as agreed upon by both parties.

Explanation: In this example, the parties have agreed to establish New York City as their elected domicile for the purposes of the contract. This means that any legal matters related to the contract will be handled in New York City, even if one or both parties do not reside there. This is a common practice in business contracts, where parties may be located in different states or countries.