{"data":{"id":"us-nc/n.c.-gen.-stat.-25-1-103","jurisdiction":"us-nc","citation":"N.C. Gen. Stat. § 25-1-103","heading":"Construction of this Chapter to promote its purposes and policies; applicability of supplemental principles of law.","body":"(a)\tThis Chapter shall be liberally construed and applied to promote its underlying purposes and policies, which are:\n(1)\tTo simplify, clarify, and modernize the law governing commercial transactions;\n(2)\tTo permit the continued expansion of commercial practices through custom, usage, and agreement of the parties; and\n(3)\tTo make uniform the law among the various jurisdictions.\n(b)\tUnless displaced by the particular provisions of this Chapter, 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. (1917, c. 37, s. 56; C.S., s. 4039; 1941, c. 353, s. 18; G.S., s. 55-98; 1955, c. 1371, s. 2; 1965, c. 700, s. 1; 2006-112, s. 1.)","path":["Chapter 25. Uniform Commercial Code.","Article 1. General Provisions.","Part 1. General Provisions."],"source_url":"https://www.ncleg.gov/EnactedLegislation/Statutes/HTML/BySection/Chapter_25/GS_25-1-103.html","current_through":"S.L. 2026-30","vintage":"","retrieved_at":"2026-08-27T17:58:47Z","sha256":"bac6f959295995603878f456f41f262b1e00f9272b1d1da3384ac96eddf35043","source_id":"us-nc","stale":false,"prev":"us-nc/n.c.-gen.-stat.-25-1-102","next":"us-nc/n.c.-gen.-stat.-25-1-104"},"notice":"GroundRules: Original legal text. Not legal advice."}