[§425-104] Rules of construction. [Repealed July 1, 2000. For new provision, see below.] (1) The rule that statutes in derogation of the common law are to be strictly construed shall have no application to this part.

(2) The law of estoppel shall apply under this part.

(3) The law of agency shall apply under this part.

(4) This part shall be so interpreted and construed as to effect its general purpose to make uniform the law of those states which enact it.

(5) This part shall not be construed so as to impair the obligations of any contract existing when the part goes into effect, nor to affect any action or proceedings begun or right accrued before this part takes effect. [L 1972, c 17, §4]

§425-104 Supplemental principles of law. [Section effective July 1, 2000. For present provision, see above.] (a) Unless displaced by particular provisions of this part, the principles of law and equity supplement this part.

(b) If an obligation to pay interest arises under this part and the rate is not specified, the rate is that specified in section 478-2. [L 1999, c 284, pt of §1]