Sec. 4.
(Rules of construction).
(1) The rule that statutes in derogation of the common law are to be strictly construed shall have no application to this act;
(2) The law of estoppel shall apply under this act;
(3) The law of agency shall apply under this act;
(4) This act 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 act shall not be construed so as to impair the obligations of any contract existing when the act goes into effect, nor to affect any action or proceedings begun or right accrued before this act takes effect.
History: 1917, Act 72, Eff. Aug. 10, 1917 ;-- CL 1929, 9844 ;-- CL 1948, 449.4