S.C. Code Ann. § 36-1-105 – Territorial application of the title; parties' power to choose applicable law

(1) Except as provided in this section, when a transaction bears a reasonable relation to this State and also to another state or nation the parties may agree that the law either of this State or of another state or nation shall govern their rights and duties. Failing an agreement this title applies to transactions bearing an appropriate relation to this State.
(2) Where one of the following provisions of this title specifies the applicable law, that provision governs and a contrary agreement is effective only to the extent permitted by the law (including the conflict of laws rules) so specified:
Rights of seller's creditors against sold goods. Section 36-2-402.
Applicability of the Chapter on Leases. Sections 36-2A-105 and 36-2A-106.
Applicability of the Chapter on Bank Deposits and Collections. Section 36-4-102.
Governing law in the Chapter on Funds Transfers. Section 36-4A-507
Letters of credit Section 35-5-116.
Applicability of the Chapter on Investment Securities Section 36-8-110.
Law governing perfection, the effect of perfection or nonperfection, and the priority of security interests and agricultural liens Sections 36-9-301 through 36-9-307."