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Simple English definitions for legal terms
elected domicile
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A quick definition of elected domicile:
Elected domicile is a legal term that refers to a person's chosen permanent home, where they intend to return and stay even if they are currently living elsewhere. It can also refer to a contractually agreed upon domicile between parties for the purposes of a contract. A person's domicile is important for legal purposes, as it determines their legal residence and can affect things like taxation and jurisdiction. It can be established by physical presence and intention to make a place home, or by operation of law, such as the domicile of origin.A more thorough explanation:
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.