(1) The contractual obligations are governed by the domestic law if the domicile is the same for both parties; if they have a different domicile, the law of the country where the contract is concluded is applicable, unless the contracting parties have agreed that another law is applicable or this is evident from the circumstances.
(2) Contracts regarding immovable property are governed by the law of the country where the immovable property is situated.
[Translated into English from the German translation of Hilmar Krüger and Norbert F. Küppers contained in Kropholler, Außereuropäische IPR-Gesetze, Hamburg 1999]
*Official journal (al-waqâ‘i‘ al irâqîa) no. 3015 from September 8th, 1951