Our startup received a draft of a contract from the US to sign. It had apparently been reviewed and double checked. Except for the bit that said that laws of the UNTIED STATES applied. So I guess that would make the contract non binding.
Still binding. There's an issue when contracting transnationally as to what laws will apply when interpreting a contract. Basically it's still binding, but because it gets a bit more complicated as laws in each country are different. I'd guess there's something that would also state that the contract was taken to be signed in the US or something. My grandstanding is that is that if you get sued, it will be litigated in a US Court not an Aus Court.