Point of law: does the law contain any special requirements as to the choice of law clause, especially its terminology? Should the clause, in order to be valid, refer to particular statutes?

Ratio decidendi: no special requirements with regard to terminology used in the choice of law clause may exist. References to particular statutes are not required.

Practical consequences: the Judgment says that prior court decisions in analogous cases if inconsistent with this interpretation may be reversed in the procedure and within the limits envisaged by Art 311 of the Commercial Procedure Code.