LegalFix
Sign In

§ 47-1103 Construction to promote purposes and policies; applicability of supplemental principles of law

AZ Rev Stat § 47-1103 (2019) (N/A)
Copy with citation
Copy as parenthetical citation

47-1103. Construction to promote purposes and policies; applicability of supplemental principles of law

A. This title must be liberally construed and applied to promote its underlying purposes and policies, which are:

1. To simplify, clarify and modernize the law governing commercial transactions;

2. To permit the continued expansion of commercial practices through 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 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 its provisions.

Previous Section
§ 47-1102 Scope of chapter
Next Section
§ 47-1104 Construction against implied repeal