In Bobb Chevrolet, Inc. v. Jack's Used Cars (2002), 148 Ohio App.3d 97, 2002 Ohio 1351, 772 N.E.2d 171, the court noted that where "parties have failed to make an effective choice of law to govern a contract, Ohio courts are to decide the issue of the applicable state law by evaluating which state has the most significant relationship to the transaction and the parties by considering the following: (1) the place of contracting; (2) the place of negotiation of the contract; (3) the place of performance; (4) the location of the subject matter of the contract; (5) the domicile, residence, nationality, place of incorporation and place of business of the parties." Id.