Section 117. Rules of construction

(1)  The  rule  that  statutes in
  derogation of the common law are to be strictly construed shall have  no
  application to this article.
    (2)  This  article  shall be so interpreted and construed as to effect
  its general purpose.
    (3)  This  article  shall  not  be  so  construed  as  to  impair  the
  obligations of any contract existing when this article takes effect, nor
  to  affect  any  action or proceeding begun or right accrued before this
  article takes effect.