(a) The rule that statutes in derogation of the common law are to be strictly construed shall have no application to this Act.
(b) The law of estoppel shall apply under this Act.
(c) The law of agency shall apply under this Act.
(d) This Article shall be so interpreted and construed as to effect its general purpose to make uniform the law of those states which enact it.
(e) This Article and the other provisions of this Act shall not be construed so as to impair the obligations of any contract existing when the Article or any other provision of this Act, as applicable, goes into effect, nor to affect any action or proceedings begun or right accrued before this Article or any other provision of this Act, as applicable, takes effect. (1941, c. 374, s. 4; 2000-140, s. 101(l).)