1. The rule that statutes in derogation of the common law are to be strictly construed shall have no application to this law.
2. The law of estoppel shall apply under this law.
3. The law of agency shall apply under this law.
4. This law 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 law shall not be construed so as to impair the obligations of any contract existing when the law goes into effect, nor to affect any action or proceedings begun or right accrued before this law takes effect.