§ 41-01-03 — (1-103) Construction of title to promote the title's purposes and policies - Applicability of supplemental principles of law

Applicability of supplemental principles of law.
1. This title must be liberally construed and applied to promote the title's underlying
purposes and policies, which are:
a. To simplify, clarify, and modernize the law governing commercial transactions;
b. To permit the continued expansion of commercial practices through custom,
usage, and agreement of the parties; and
c. To make uniform the law among the various jurisdictions.
2. Unless displaced by the particular provisions of this title, the principles of law and
equity, including the law merchant and the law relative to capacity to contract, principal
and agent, estoppel, fraud, misrepresentation, duress, coercion, mistake, bankruptcy,
and other validating or invalidating cause supplement this title.