§ 6A-1-103 - Construction of Uniform Commercial Code to promote its purposes and policies – Applicability of supplemental principles of law.
SECTION 6A-1-103
§ 6A-1-103 Construction of UniformCommercial Code to promote its purposes and policies – Applicability ofsupplemental principles of law. – (a) Title 6A must be liberally construed and applied to promote its underlyingpurposes and policies, which are:
(1) To simplify, clarify, and modernize the law governingcommercial transactions;
(2) To permit the continued expansion of commercial practicesthrough custom, usage, and agreement of the parties; and
(3) To make uniform the law among the various jurisdictions.
(b) Unless displaced by the particular provisions of title6A, the principles of law and equity, including the law merchant and the lawrelative to capacity to contract, principal and agent, estoppel, fraud,misrepresentation, duress, coercion, mistake, bankruptcy, and other validatingor invalidating cause supplement its provisions.