(1) The rule that statutes in derogation of the common law are to be strictly construed shall have no application to this article.
The law of estoppel shall apply under this article.
The law of agency shall apply under this article.
This article shall be so interpreted and construed as to effect its general purpose tomake uniform the law of those states which enact it.
This article shall not be construed so as to impair the obligations of any contractexisting prior to April 17, 1931, nor to affect any action or proceedings begun or right accrued before said date.
Source: L. 31: p. 646, § 4. CSA: C. 123, § 4. CRS 53: § 104-1-4. C.R.S. 1963: § 104-14.