Well, it's clear to me that he thinks the law should apply, but only when it favors and is convenient to him, lol. The clause is claiming that the contract rules over law, and that the law only applies if the contract doesn't already address it.
FYI to anyone who ever finds something similar in their own contracts, contracts absolutely CANNOT override law. Any terms and conditions that contradict the law, including those which claim to override the law, are treated as null and void, even if you signed it. Certain rights are protected, you can't just sign them away. Contracts can add to them, not take them away. Law always trumps contracts, never the other way around.